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Income of Chinese contractor of infrastructural projects in Georgia up

Finance Materials 24 November 2020 14:17 (UTC +04:00)
Income of Chinese contractor of infrastructural projects in Georgia up

BAKU, Azerbaijan, Nov. 24

By Tamilla Mammadova – Trend

Incomes of Sinohydro, the Chinese contractor of infrastructural projects in Georgia, exceeded 121 million lari ($36.6 million) in 2019, Trend reports via Georgian media.

The annual growth marked 39.3 percent.

The company finished the year with profits of 15.7 million lari ($4.7 million), while the losses amounted to 21.1 million lari ($6.3 million) in 2018. Sinohydro fulfills the Georgian state orders. The state projects are partly funded from the state budget and with the financial sources of the Asian Development Bank (ADB) and the European Bank.

The company has implemented and has been implementing the following projects:

- Rikoti Tunnel rehabilitation- E-60 highway (the 143rd kilometer); FEWHIP-AF/CW/ICB-01;

- Tbilisi-Rustavi section. Tbilisi-Red Bridge (the border with Azerbaijan). Modernization of the road section, the first and 3rd sections N P42414-SUTIP2-ICB-1.03-2013

Kobuleti bypass road: construction of 12+400 section and broadening of the existing road to a 4-lane road. Chakvi-Makhinjauri 30+000 section. Contract # RCIP/CW-ICB-01/03

Kobuleti bypass road: construction of 12+400 section and broadening of the existing road up to a 4-lane road. Chakvi-Makhinjauri 30+000 section. Contract # RCIP/CW-ICB-02;

E-60 highway construction works. Zemo Osiauri-Chumateleti section LOT 1. Contract # EWHCIP/CW/ICB-01
Samtredia-Grigoleti – 60 highway- 11+50.

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