2022 Freight income highest in 7 years - Georgian Railway
The statement also said Georgian Railway had maintained an increasing trend in freight transportation since 2018, saying the figures had increased in all directions including China, Kazakhstan, the Middle Corridor and the Baku-Tbilisi-Kars route. Photo: BTK Railway/Facebook
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Georgian Railway made over ₾191 million ($70.4) in income from freight in the first six months of 2022, the highest figure over the last seven years, the company announced on Monday.
The company transported a total of 6.8 million tonnes of cargo in the first two quarters of the year, marking a 13.3 percent increase compared to the figure from last year.
The statement also said Georgian Railway had maintained an increasing trend in freight transportation since 2018, saying the figures had increased in all directions including China, Kazakhstan, the Middle Corridor and the Baku-Tbilisi-Kars route.
Additionally, freight increased for the following types of cargo:
- Fuel oil - from Kazakhstan
- Crude oil - from Kazakhstan
- Methanol - from Azerbaijan
- Carbide - from Turkmenistan, Uzbekistan, Azerbaijan
- Raw sugar - from Central Asia
In his comments, Georgian Railway Director General Davit Peradze said the main challenge of the company remained unchanged in attracting new loads to the freight corridor and maintaining them in the long term.
Export and transit cargos from Kazakhstan will be redirected to the Trans-Caspian International Transport Route (TMTM) crossing Azerbaijan, Georgia and Turkey, Kairbek Uskenbayev, the Minister of Industry and Infrastructure Development of Kazakhstan, announced on Tuesday.
Georgian Railway will be able to carry about 21 more million tonnes of cargo annually following the completion of the modernisation of the network in the country, Georgian Railway Director General Davit Peradze told Business Morning TV programme on Monday.
Georgian Railway reported a profit of ₾52,711 ($18,399/€17,179) in 2021 following four years of operating losses, as part of a new financial statement of the company.
A delegation from Georgian Railway joined counterparts from Turkey, Azerbaijan and Kazakhstan on Wednesday in Ankara to discuss the project of the Middle Corridor of the Trans-Caspian International Transport Route, aimed to connect supply chains and logistics between China and Europe.
Georgian Economy Minister Levan Davitashvili on Saturday said cargo turnover, by the country's transport sectors, including road and railway, as well as civil aviation, had increased by 16.6 percent in the first quarter of 2022 and had amounted to 12.8 million tons, this “clearly indicating” that the interest of international carriers towards the transport corridor of Georgia has been growing.
Georgian Railway hit a “record-high” profit of ₾283 million ($106mln) in 2022, with the annual growth of its freight marking a 22 percent increase, Director General Davit Peradze told Prime Minister Irakli Garibashvili on Friday.