Georgian Railway Aims for Significant Increase in Freight Turnover to 48 Million Tons

The Georgian Prime Minister Irakli Garibashvili held a meeting with the Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili, Deputy Minister Guram Guramishvili, and the CEO of Georgian Railway JSC, David Peradze.

The meeting discussed the remarkable performance of Georgian Railway in 2022, with a record profit of GEL 283 million and a 22% annual growth in throughput.

The participants also talked about the future development plans for the railroad, including the modernization of the infrastructure and fleet of railcars, as well as the implementation of the first phase of the Baku-Tbilisi-Kars project, which is expected to be completed in 2024.

"Georgian Railway had progress in terms of modernization. Now, the Railway is capable of carrying 27 million tonnes of freight per year, while the figure would reach 48 million after the completion of its modernisation project by the end of 2024", it was noted at the meeting.

Additionally, the meeting covered the draft Law of Georgia on Amending the Georgia Railway Code, which aims to reform the rail transportation sector and align it with EU legislation. The law would clarify the state's role in the rail transportation sector, including the implementation of state policy, monitoring, and enforcing safety regulations. The reform and restructuring of the 150-year-old Georgian Railway company are expected to increase its competitiveness and provide better opportunities for business interests and safety management.