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Kazakh Company Regains Control in Georgian Subsidiary to Avoid Growth in Tariffs

The Kazakh company’s debt worth 80 million GEL ($1/1.76 GEL) to the government of Georgia will be repaid at the expense of Georgia’s debt to Kazakhstan, the Vice Prime Minister, Minister of Energy of Georgia Kakha Kaladze said Nov.17 at a briefing in Tbilisi.

The minister said that the company has a debt to the Bank of Georgia as well, which will be restructured, and KazTransGas-Tbilisi will continue to work normally then.

“The company has a 10-million debt to the Bank of Georgia, the negotiations on this issue have already taken place and its restructuring has been implemented,” said Kaladze. “This debt will be assigned for a certain period, and the company will return to the management. Nothing threatens the tariffs. Someone spread the rumors about their increase. This is a big lie.”

Kazakh company will regain control of Tbilisi gas distribution company since early 2015.