{"id":3150,"date":"2024-10-25T19:58:52","date_gmt":"2024-10-25T15:58:52","guid":{"rendered":"https:\/\/fund.ge\/?p=3150"},"modified":"2024-12-06T14:29:26","modified_gmt":"2024-12-06T10:29:26","slug":"%e1%83%a1%e1%83%90%e1%83%a5%e1%83%90%e1%83%a0%e1%83%97%e1%83%95%e1%83%94%e1%83%9a%e1%83%9d%e1%83%a1-%e1%83%92%e1%83%90%e1%83%9c%e1%83%95%e1%83%98%e1%83%97%e1%83%90%e1%83%a0%e1%83%94%e1%83%91-8","status":"publish","type":"post","link":"https:\/\/far.ge\/en\/%e1%83%a1%e1%83%90%e1%83%a5%e1%83%90%e1%83%a0%e1%83%97%e1%83%95%e1%83%94%e1%83%9a%e1%83%9d%e1%83%a1-%e1%83%92%e1%83%90%e1%83%9c%e1%83%95%e1%83%98%e1%83%97%e1%83%90%e1%83%a0%e1%83%94%e1%83%91-8\/","title":{"rendered":"With the participation of the Development Fund of Georgia, the first full-cycle oil refinery will be built in Georgia"},"content":{"rendered":"

With the participation of the \"Development Fund of Georgia\", the first full-cycle oil refinery will be built in Georgia. This is the largest private investment project in the history of independent Georgia.<\/p>\n

As a result of the investment made in the first stage together with the partner \"Black Sea Petroleum\" LLC, the enterprise will process 1.2 million tons of crude oil during the year. The factory will be equipped with high-tech, modern equipment, ensuring the receipt of final products of the highest quality, and international standard.<\/p>\n

\"I am glad that today, with our partnership, the foundation was laid for the start of the historic project. The existence of an oil refinery will become the cornerstone of energy security and energy independence for the country. High-tech production is one of the main priorities of the fund. The construction of the factory will contribute to the economic development of the country and the creation of jobs. In addition, since the raw materials produced are used in various sectors of the industry, including transport, construction, and other sectors, the availability of resources needed for the industry will also increase. It is most important that the highest quality products produced at the factory will be exported, which will contribute to the economic growth of our country,\" said Davit Saganelidze, Chairman of the Supervisory Board of the Development Fund of Georgia.<\/p>\n

The plant produces three types of products: naphtha, diesel, fuel oil, which after processing are used as acceptable raw materials for gasoline, motor oils and diesel, ship fuel, tar, bitumen, etc. The factory will start operating in 2025. The investment volume of the first stage of construction is 110 million US dollars, of which the participation of the \"Georgian Development Fund\" is 5 million US dollars. The fund participates in project financing through a syndicated loan, together with commercial banks operating in Georgia.<\/p>\n

It is noted that by the end of 2026, the capacity of the enterprise will increase by another 2.8 million tons and will reach four million tons per year. By the end of 2028, high-tech processes of in-depth processing of crude oil and oil products provided by the project will be fully implemented in the enterprise. The purpose of the investment project is to produce and export high-quality oil products.<\/p>\n

The presentation of new factory project in Kulev was presented by the Minister of Economy and Sustainable Development Levan Davitashvili and the Prime Minister of Georgia, Irakli Kobakhidze. David Saganelidze, Chairman of the Supervisory Board of the Development Fund of Georgia, Besik Bugianishvili, the Fund's Executive Director, and Dimitri Khorava, the Director of the Fund's Investment Department, attended the presentation of the new factory project by the \"Georgian Development Fund\".<\/p>\n

\"\" \"\" \"\" \"\"<\/p>","protected":false},"excerpt":{"rendered":"

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