Georgia-Iran to jointly build oil refinery in Supsa, Black Sea
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An oil refinery complex will be built in Supsa, a Black Sea port village in western Georgia.
The project’s investor, Georgian-Iranian company GEOPARS, was gifted state-owned land in Supsa to build the new oil refinery.
Georgia’s National Agency for State Property Management and GEOPARS signed a privatisation agreement today at a presentation of the new Supsa Oil Refinery Complex.
Georgia’s Prime Minister Giorgi Kvirikashvili promised the Government would fully support investors to build the new facility.
I am glad to see 800 people will be employed [within the project’s implementation]. This means there will be 800 families better off in Georgia,” he said.
[I believe] this project will be carried out successfully and its results will be reflected in the development of Georgia’s economy,” said PM Kvirikashvili.
Georgia’s National Agency for State Property Management and GEOPARS signed a privatisation agreement today at a presentation of the new Supsa Oil Refinery Complex. Photo by the PM's press office.
Georgia’s PM said building the oil refinery was important for cementing Georgia’s role as a transit country that offered Asian countries the shortest route to Europe.
This project not only raises Georgia’s role as a transit country but also puts Georgia on the map as a producer-industrial country. Furthermore, having and Association Agreement (AA) and its Deep and Comprehensive Free Trade Area (DCFTA) deal with the European Union (EU), makes Georgia attractive for regional countries, and in this case for Iran, to create industrial zones and export the production to the EU,” said Kvirikashvili.
Georgia’s high official recalled his visit to Iran last year, where he attended an Economic Cooperation Committee meeting – the first time it was held in several years.
Kvirikashvili said the purpose of the meeting was to deepen economic cooperation between Georgia and Iran and results of that meeting were already "obvious”, referring to the joint cooperation to build the new oil refinery complex.
An Iranian investor is building a Green Village in Georgia’s historic, winemaking region Kakheti, creating a unique destination for tourists and tourists that will bring money into the region and benefit the country’s economy.
Iran will construct Hydro-electric Power Plants (HPPs) in Georgia, develop the country’s electricity network and build electricity transmission lines between Iran and Georgia, reports Iranian newspaper Tehran Times.
Georgia, Iran, Armenia and Russia are deepening cooperation in the energy sector by increasing the efficiency of the countries electrical systems.
Georgia will play an important role connecting Iran to Europe thanks to a new transit corridor that Iran and Bulgaria are opening through Georgia.
Georgian startups will now able to enter the Iranian market of 80 million consumers and develop new businesses in Iran.
Georgia and Iran are taking actions to carry forward millennia-old relations by forging closer ties in trade, business and economy.
Georgian Prime Minister Giorgi Kvirikashvili will visit Iran this weekend to further strengthen cooperation between the two countries.
Georgia is seeking to attract more investments from Iran and has informed foreign investors about opportunities offered by the country’s business-friendly environment.