Tbilisi Electric Locomotive Factory is up for Sale for ₾48.8 million

The National Bureau of Enforcement is currently auctioning off the real and movable property of "Elmavalmshenebli" joint stock company, which is located at Guramishvili Avenue, N84 in Tbilisi.

According to the announcement published on eauction.ge, the asset is being sold for a price of 48.8 million GEL. The auction began on March 2 and will end on March 9.

JSC "Elmavalmshenebeli" was established in 1998, and as of December 31, 2019, the offshore company "Loco Trans Company" registered in Malta owns 87% of the shares in the company, while the state of Georgia owns 12.8%, and the labor collective owns 0.2%.

The primary activities of "Elmavalmshenebl" include constructing mainline electric vehicles, producing spare parts, and performing capital repairs on electric vehicles.