Top Chinese energy giant keen to invest in Georgia

Georgia’s Prime Minister met officials from CEFC China Energy in Georgia’s capital Tbilisi today. Photo by the Prime Minister’s webpage., 14 Jun 2016 - 17:45, Tbilisi,Georgia

One of China’s leading energy conglomerates, CEFC China Energy, is showing an interest in investing in Georgia, and not only in the country’s developing energy sector.

A Chinese delegation representing the CEFC China Energy met Georgia’s Prime Minister Giorgi Kvirikashvili and other officials in capital Tbilisi this afternoon, where they learned about the prospects of cooperation in several sectors including energy, finances, tourism, transport and logistics.

Georgia’s Prime Minister informed the guests about the vast investment opportunities available in Georgia and said a special working group would be created to facilitate cooperation between the Government of Georgia and CEFC China Energy.

The working group will be chaired by Georgia’s Minister of Economy Dimitri Kumsishvili.

Meanwhile in July the Chinese company will host a month-long investment forum in Shanghai, China, and invited Georgia to attend so the sides could further discuss future cooperation.

CEFC China Energy is a private Chinese conglomerate. With revenue of $35 billion USD in 2014, the company is among the 10 largest private companies in China.

In 2014 CEFC China Energy earned most of its income from oil and gas (60 percent) and financial services (25 percent), but the company also operated in a wide range of other sectors like transport infrastructure, forestry, asset management, hotel management, warehousing services, real estate development and logistics services.

A large portion of CEFC's assets is concentrated in overseas markets. Most of the company is owned by Shanghai Energy Fund Investment Ltd (SEFI), which is registered under Ye Jianming, the chairman of CEFC.

The Chinese conglomerate currently invests in several European countries including the Czech Republic, Slovakia and Romania.