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First Advanced Oil Refinery in Georgia

Oil refinery complex will be constructed in Supsa. Georgian-Iranian company GEOPARS will invest in implementation of the project. In exchange for performing the relevant investment obligations, the state has granted the company a land plot located in the village of Supsa. Relevant privatization agreement was concluded between the GEOPARS and the National Agency for State Property Management.

The Prime Minister of Georgia attended the signing ceremony and the project presentation. Giorgi Kvirikashvili congratulated the attendees of the event on launching the project and indicated that respective project as well as other initiatives require maximum state support and assistance.

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Minister recalled his last year’s visit in Iran as a Vice Prime Minister, when after many years of halt, the session of the bilateral economic cooperation commission was held. According to the head of the Government, one of the first decisions taken by the commission was to activate Iran-Georgia relations and the large-scale project of oil refinery complex is a clear result of the efforts taken.

“Such a large-scale project will have a significant employment effect and I am glad to announce that according to the existing information, 800 new workplaces will be created. This means 800 thriving and wealthy families in Georgia and this is important. The project will be implemented successfully and its results will be visible in terms of economic development of Georgia,” – Prime Minister noted.

Kvirikashvili welcomed the fact that the presentation of the project took place at the historical “Karvasla” – a symbolic manifestation of Georgia’s geographic location and its function of trade and transit hub.”It is a welcoming fact that today we will see a project that once again accentuates this function and reinforces Georgia’s regional role of the shortest route to Europe for Near East and Asian countries. It is a welcoming fact that we will see a project that puts Georgia on a map by highlighting not only its transit function, but an industrial role as well.

This is particularly important due to the fact that the DCFTA between Georgia and the EU provides particular opportunities to create production zones in Georgia with an aim of exporting goods to Europe for the countries of this region and Iran in particular,” – the Prime Minister noted.The head of the Government thanked the guests, as well as GEOPARS and the Ambassador of Georgia to Iran and the Ambassador of Iran to Georgia for contributing to the development of economic relations between the countries.