BAKU, Azerbaijan, August 31
By Tamilla Mammadova – Trend:
Georgian state-owned company Energotrans LLC, which owns high-voltage power lines, suffered a loss of 26.4 million lari ($8.6 million) in 2019, Trend reports citing the company's report.
In 2019, Energotrans's profit amounted to 42.3 million lari ($13.8 million), but this amount was not enough to cover the company's expenses, as a result, the company suffered losses.
As reported, 2018 was also unprofitable for the company, with a loss of 27.8 million lari ($9.08 million).
As of December 31, 2019, the company's assets amounted to 230.9 million lari ($75.4 million), and total liabilities equaled 648.2 million lari ($211.8 million).
Energotrans LLC is wholly owned by the State Electric System. Until 2020, this company was owned by the Partnership Fund, but this year it was transferred directly to the state.
Energotrans owns 290 km of high-voltage transmission lines that connect Georgia with Turkey. The infrastructure owned by the company was created under the “Black Sea Transmission Network Construction Project” and through it, the electricity is transported from Georgia to Turkey.
To implement the project in 2010-2013, Energotrans LLC received loans from international donor organizations (KfW - 75 million euros, EBRD - 56.1 million euros, EIB - 79.8 million euros).
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