Govt Announces Privatisations

The Georgian Ministry of Economy said the government planned to sell 24% of its shares in the port of Poti and 60% of the electricity company, Electrosystem, next year.

Fifty one percent of Poti port is controlled by the UAE’s Ras Al Khaimah emirate’s investment authority, which bought the asset earlier this year for USD 90 million. The rest remains under Georgian state ownership.

Electrosystem uses high-voltage power lines to carry electricity throughout Georgia.

The Economy Ministry also said it was planned to sell Kopitnari airport, near Kutaisi, and Georgian Post.

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