Over 3 billion GEL to be invested in Georgia's transport infrastructure in 10 years
Minister Turnava said that transport infrastructure is one of 'our key industries' and the Black Sea coast is the gateway that connects Europe and Asia. Photo: Nino Alavidze/Agenda.ge.
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Over 3 billion GEL (about $0.95 bln/€0.80 bln) will be invested in transport infrastructure in the next 10 years, Georgian Economy Minister Natia Turnava has announced while presenting Georgia’s new 10-year economic development strategy earlier today.
Turnava said that transport infrastructure is one of 'our key industries' and the Black Sea coast is the gateway that connects Europe and Asia.
She said that three major projects are underway currently:
- Expansion of Poti Port
- Construction of Pace terminal in Poti
- Anaklia Deep Sea Port project
Image: Ministry of Economy.
Turnava said that soon the process of reviewing the old feasibility study of the Anaklia port project will be completed and 'we will formulate the structure of this project to make it more attractive to talk to investors'.
Turnava also spoke about the progress of the railway modernisation project and the completion of the construction of a railway station in Akhalkalaki, which is a key point of the new railway route - Baku - Tbilisi - Kars.
Turnava said that the government is successfully developing the dry ports network near the capital city of Tbilisi and 'the first successful projects are already underway'.
Turnava announced that the development of Kutaisi International Airport continues and now a cargo terminal of the airport is being developed.
Minister Turnava said that it is important to develop freight traffic between the ports of Georgia and the EU countries.
The European Union is launching a new twinning project in order to help the Georgian railway sector to adapt to EU standards and regulations and to strengthen the railway regulatory environment of Georgia.
What does it include?
Georgian Economy Minister Natia Turnava has presented a 10-year economic development strategy which covers 12 major areas, ranging from small business empowerment, investment attraction, to specific development policies and quantitative indicators in each key area that the country should achieve by 2025 and 2030.
The Asian Development Bank (ADB) has invested $20 million in green bonds issued by Georgian Railway with the proceeds to be used primarily to roll over maturing Eurobonds that it had issued to improve existing railway lines as a part of an ongoing modernisation project, announces the ADB.
The international consulting company Maritime & Transport Business Solutions (MTBS) will update the freight forecast and business model for the Anaklia deep sea port project in about eight-nine weeks, announces the Ministry of Economy of Georgia.
The European Union (EU) will allocate €3.9 billion to help Georgia improve transport and logistics connectivity, announces Georgian Prime Minister Irakli Garibashvili after the meeting with European Commissioner for Neighbourhood and Enlargement Oliver Varhelyi today. The €3.9 billion aid package consists of a €1.17 billion grant and the rest is a loan.
Travellers heading from the Georgian capital city of Tbilisi further east to Kakheti region are now able to drive along a new bypass road that skirts the town of Gurjaani and the six villages of Bakurtsikhe, Kolagi, Dziroki, Chandari, Vejini and Chumlaki.