Georgian Railway contributes around $172 million to state budget in 2003-2012
Georgia, Tbilisi, Oct. 26 / Trend corr. N.Kirtskhalia /
In 2003-2012, Georgian Railway (GR) has contributed 285 million lari ($ 1 = 1.66 lari) to the state budget. This was reported to journalists on Friday by former CEO of the company Irakli Ezugbaya.
According to him, Georgian Railway, which operated at loss since 2003, became profitable in 2007 and completed 2011 with a profit of 174.4 million lari..
The company is also one of the largest taxpayers. The average contribution of the company in 2005-2012 was 51.6 million lari.
In addition, Ezugbaya noted that, the GR is a leader in the world in profitability rates.
According to the GR administration, the company's credit rating is equal to the sovereign rating of Georgia and is a maximal figure.