Russian Energy Giant Prepares to Obtain Georgian Chemical Factory

(Tbilisi February 4, 2003. Civil Georgia) – Representatives of the Russian energy company ITERA paid two day visit in Tbilisi on February 3-4 and presented business-plan for Azot chemical factory, in town of Rustavi. 

ITERA intends to purchase the largest chemical factory in the region. The company will pay USD 500 million for the 90% of factory’s shares. The ITERA also vows to invest up to USD 14 million in the two years.

The agreement between Georgia and ITERA is not signed yet. Georgian Ministry of Energy is to prepare the agreement within two weeks.

Georgian opposition is against the deal. Opposition claims that ITERA is linked with the Russian political groups, and can be used to pressure Georgia.

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