Page 51 - GEORptSep22

9.1.2 Transport sector news
Georgia railway profits at record high
Georgia’s rail freight rose by over 13% in 1H22
Turkmenistan signs transport cooperation deals with Russia, Georgia, and Moldova
Tusheti road reconstruction will cost $34mn
Georgian Prime Minister Irakli Garibashvili said the profit of Georgian Railways had hit a "record high" of GEL161mn ($59 mn) in the first half of the year. During the August 15 cabinet meeting, the prime minister announced that the increased freight traffic through Georgia had increased revenues for the company.
"More freight has been going through Georgia, the volume of shipments and the revenues of the Georgian Railway have increased and reached record-high figures over the past six months," Garibashvili said. The prime minister also added that the total operating income of the railway company had amounted to GEL311mn ($114mn) in 1H22.
Georgian Railways has registered the highest rail cargo volume in the past seven years, the country's national railway company reported.
The railway transported 6.8mn tonnes of cargo during the first half of the year, which is a 13.3% increase y/y. The profit obtained from transportation exceeded GEL191mn ($70mn). The company characterised these results as "the highest for the last seven years".
The company stated that the growth had been recorded in the directions of China, Kazakhstan, the Middle Corridor and Baku-Tbilisi-Kars. As for the cargo types, residual oil, crude oil, methyl, carbamide, and unrefined raw sugar have shown the most significant volume increase.
"The main challenge of the company remains the same: attracting new cargos to the corridor and maintaining them in a long term," said David Peradze, Director General at Georgian Railways.
Turkmenistan signed separate transport cooperation deals with Russia, Georgia, and Moldova on the sidelines of the Ministerial Transport Conference of Landlocked Developing Countries under an initiative entitled “Ashgabat Process: Funding for Better Connectivity”, Turkmen news website Orient has reported.
A memorandum of understanding (MoU) was signed by the Agency for Transport and Communications under Turkmenistan’s Cabinet of Ministers and the Russian Transport Ministry on developing international road transportation. Turkmenistan signed a similar agreement with Moldovan Deputy Prime Minister Andrei Spinu, the report added.
In addition, the chairman of Turkmenistan's Agency for Sea and River Routes, Annadurdy Kosyayev, and Georgia's Deputy Foreign Minister Aleksander Khvtisiashvili signed an MoU agreed between the sea transport agencies of the two countries.
The Ministerial Transport Conference of Landlocked Developing Countries took place under the auspices of the United Nations on August 15-16.
The road leading to north-eastern Georgia’s remote Tusheti highland region is to be reconstructed and modernised to make the drive faster and safer. Tusheti is a popular tourist destination, but it is one of the most dangerous roads in Georgia.
On July 28, the Ministry of Infrastructure of Georgia announced that the project would be completed gradually in 2025. It will cost GEL100mn ($34mn).
The 72 km-long safety improvement project includes roads from Pshaveli-Abano-Omalo. The latter starts from the Pshaveli village and ends in the Lechuri village of the Kakheti region. The reconstruction will be
51 GEORGIA Country Report September 2022 www.intellinews.com