The National Agency of State Property at the Ministry of Economic Development of Georgia yesterday signed a contract with the Georgian-Iranian company Geopars, according to which it is transferred a plot of land in the Black Sea town of Supsa for the construction of an oil refining complex.
“This large-scale project, of course, will have the maximum assistance and support from the government,” said the Prime Minister of Georgia Giorgi Kvirikashvili at the signing ceremony, the press service of the Prime Minister reported.
The project investment is about $ 1.5 billion. It consists of three components, including oil refineries, petrochemical production and logistics center.
In turn, First Deputy Prime Minister, Minister of Economic Development of Georgia Dmitry Kumsishvili noted that the project “will significantly reduce not only the importation of petroleum products into the country, but also increase its export potential.”
Supsa is a town with a developed infrastructure. Through the town passes an international highway. Supsa has a railway station and an oil terminal, where via the Baku-Supsa pipeline oil comes from Azerbaijan, which is then supplied to the world market.