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Daily News


December 17, 2008

IN THIS ISSUE:

1. GEORGIAN GOVERNMENT TO SELL REGIONAL GAS DISTRIBUTION COMPANIES TO SOCAR GEORGIA GAS
2. ECONOMIC DEVELOPMENT MINISTER EXPLAINS SELLING OF LLC ORTACHALHES-2007 BY BRINGING OF SMALL SUMS IN THE BUDGET
3. THE NEXT SIX COMPANIES TO BE FINANCED IN SHIDA KARTLI IN TERMS OF “CHEAP LOAN” PROGRAM
4. GREATEST SHARE OF CARGO PASSES THOUGH YELLOW CORRIDOR IN THE CUSTOMS
5. BUDGET EXPENDITURES MADE UP 6.09B LARI IN JANUARY-NOVEMBER
6. BANK CONSTANTA TO OFFER WESTERN UNION SERVICE
7. TRADE WITH SAKHALKHO BANKI SHARES IS SUSPENDED ON THE STOCK EXCHANGE
8. THREE BROKERAGE COMPANIES ARE CEASED MEMBERSHIP OF THE STOCK EXCHANGE
9. SHARES OF JSC MEDEA ARE WITHDRAWN FROM STOCK EXCHANGE TRADE SYSTEM
10. RECONSTRUCTION OF MTATSMINDA SUBSTATION IS FINISHED
11. LLC WINE MAN DELAYED PRODUCING OF THE NEW BRAND
12. 18 COMPANIES ARE INTERESTED IN SUPERVISION OF SVENETI-RUISI SECTOR CONSTRUCTION AND RIKOTI TUNNEL REHABILITATION

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1. GEORGIAN GOVERNMENT TO SELL REGIONAL GAS DISTRIBUTION COMPANIES TO SOCAR GEORGIA GAS
Business

Energy Minister Alexander Khetaguri told the journalists today that Georgian government will sell gas distribution companies to SOCAR Georgia Gas on December 20. It is planned to sign the privatization agreement this day.

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2. ECONOMIC DEVELOPMENT MINISTER EXPLAINS SELLING OF LLC ORTACHALHES-2007 BY BRINGING OF SMALL SUMS IN THE BUDGET
Business

Georgian Economic Development Minister Lasha Zhvania says that leaving of LLC OrtachalHES-2007 (hydroelectric station) in the state ownership is losing for the budget and that is why it was decided to privatize it.

As the Minister told the journalists in the State Office, OrtachalHES did not work at full capacity and transferred only 41,000 lari to the budget per year.

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3. THE NEXT SIX COMPANIES TO BE FINANCED IN SHIDA KARTLI IN TERMS OF “CHEAP LOAN” PROGRAM
Business

The next six companies will be financed in Shida Kartli region by 545,000 lari in terms of the “Cheap Loan” state program, announced Georgian Economic Development Minister Lasha Zhvania at today’s government meeting.

The financing is envisaged in terms of the “Regional Tourism, Agriculture and People’s Trade Development” subprogram.

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4. GREATEST SHARE OF CARGO PASSES THOUGH YELLOW CORRIDOR IN THE CUSTOMS
Economics

According to the rate of passing the goods through the customs, yellow corridor accounts for 88%, told journalists deputy head of Incomes Service Irakli Siradze.

This corridor, which envisaged passing of goods at the basis of electronic comparison of the data, has been operating in risks management system from the current year.  Such control is implemented in case if everything is in order and only comparison of the documentation is needed.

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5. BUDGET EXPENDITURES MADE UP 6.09B LARI IN JANUARY-NOVEMBER
Economics

As Georgian Finance Ministry reports, expenditures from the state assignations made up 6.09 billion lari.

To compare: expenditures in January-September made up 5.56 billion lari (79.9% of the annual budget), in January-June – 3.69 billion lari.

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6. BANK CONSTANTA TO OFFER WESTERN UNION SERVICE
Business

From the next week bank Constanta will offer its clients international money transfer service Western Union.

As the bank told Sarke, service of MoneyGram and Anelik will also be offered from the end of the year or from the beginning of the next year.

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7. TRADE WITH SAKHALKHO BANKI SHARES IS SUSPENDED ON THE STOCK EXCHANGE
Business

Trade with Sakhalkho Banki (People’s Bank) shares was temporarily suspended on the Georgian Stock Exchange these days.

As the Stock Exchange told Sarke, temporary suspension of trade of bank’s shares is caused by breaking of the agreement with the bank’s registrar (Capital Registrar).

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8. THREE BROKERAGE COMPANIES ARE CEASED MEMBERSHIP OF THE STOCK EXCHANGE
Business

As Georgian Stock Exchange reports, three brokerage companies were ceased its membership.  These companies are Bona, Kabarjina and Prima Broker.

As Tamaz Khizanishvili, Director of Admission to Trades on the Stock Exchange, explained Sarke, suspending of membership was implemented at the basis of applications made by the companies.  These companies were withdrawn licenses, he noted.

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9. SHARES OF JSC MEDEA ARE WITHDRAWN FROM STOCK EXCHANGE TRADE SYSTEM
Business

As Georgian Stock Exchange reports, shares of JSC Medea (garment factory in Kutaisi) are withdrawn from the trade system.

As the Stock Exchange told Sarke, withdrawal of company’s shares is caused by the fact that it did not have a registrar for a very long time.

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10. RECONSTRUCTION OF MTATSMINDA SUBSTATION IS FINISHED
Business

As JSC TELASI (energy distribution company) informs, the company finished reconstruction of the high voltage substation Mtatsminda (110 kV).  The works cost the company 2 million lari.

The substation serves 21,000 clients of Vake, Vera and Mtatsminda districts.

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11. LLC WINE MAN DELAYED PRODUCING OF THE NEW BRAND
Business

Winemaking company LLC Wine Man delayed producing of the new brand Alexander Jorjadze  until the next year.

As company’s director general Kote Gagua told Sarke, this decision was made because of the financial crisis in the world and in Georgia.

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12. 18 COMPANIES ARE INTERESTED IN SUPERVISION OF SVENETI-RUISI SECTOR CONSTRUCTION AND RIKOTI TUNNEL REHABILITATION
Business

As Motor Road Department of Georgian Economic Development Ministry reports, 18 companies expressed interest in provision of supervision of Sveneti-Ruisi (80-95 km) highway sector construction and supervision of Rikoti tunnel (143 km) rehabilitation.  Term of bids expired yesterday.

As Roads Department told Sarke, American-British, Belgian-Italian, British, Canadian, French, Georgian, German, German-Georgian, Greek, Italian, Indian-Georgian, Spanish and Turkish companies submitted their proposals.

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