Azerbaijan, Baku, Dec. 29 / Trend E. Ismayilov /
The State Oil Company of the Azerbaijan Republic's (SOCAR) investments in Georgia in 2011 will exceed $ 50 million, a source in SOCAR Energy Georgia, an affiliate of SOCAR in Georgia, reported.
SOCAR is actively working in the market of Georgia on the construction of filling stations and the gasification of 31 gas supply grids in Georgia. Work is underway on the building of new representation SOCAR.
The company plans to invest about $30 million in the project during the third year of the gasification program. More than $20 million will be spent on the construction of a new administration building, as well as the construction of filling stations and other projects implemented by SOCAR.
On Dec. 26, 2008, SOCAR and the Georgian Government signed an agreement to operate 30 gas supply grids and gas distribution networks in the Kakheti, Mtskheta-Mtianeti, Shida and Kvemo Kartli, Ajaria, Guria, Imereti, and Samegrelo regions of Georgia. These networks are operated by 24 companies.
In April, SOCAR Energy Georgia acquired a gas distribution network in the Marneuli region, populated by the Azerbaijani community. Marneuli has 31 gas supply grids operated by SOCAR Georgia.
Gas distribution networks in Marneuli were previously owned by Wissol, which bought gas from SOCAR and then sold it in Marneuli. Now, the whole cycle of works in this direction will be implemented by SOCAR Energy Georgia.