Economy
Posted: 2 months ago

Rikoti Pass Construction Valued at 1 Billion Euros

The construction of the Rikoti section of the East-West expressway is valued at 1 billion euros, with the Asian Development Bank (ADB) in Georgia providing loan financing for the project. Deputy Minister of Finance, Ekaterine Guntsadze, highlighted ADB's crucial role, noting its flexibility in financing instruments.

"The Asian Development Bank stands as a pivotal strategic partner for Georgia. Our extensive portfolio with ADB spans several infrastructure projects, including the East-West Expressway, additional road projects, urban infrastructure, and the development of power transmission lines. Presently, all projects under agreement with ADB are nearing completion, with the majority slated to conclude by this summer or the year's end," Ekaterine Guntsadze stated.

Guntsadze also mentioned ongoing efforts on road infrastructure towards Kakheti, with plans for collaboration with other donors beyond ADB.

A significant upcoming project includes the Sarpi bypass section, for which no formal agreement has been signed yet. Nonetheless, ADB has conducted a preliminary technical-economic study for this project.

"This upcoming project represents a substantial investment and is included in our medium-term action plan, though it is not anticipated to be signed in the immediate future," Guntsadze added.