SOCAR subsidiary to invest $30 mln in filling station chain in Georgia this year
TBILISI. May 5 (Interfax) - SOCAR Georgia Petroleum, a subsidiary of State Oil Company of the Azerbaijani Republic (SOCAR), plans to invest 50 million lari (over $30 million) this year in the development of petroleum product sales in Georgia, the director of the Georgian company, David Zubitashvili, told journalists on Saturday.
"The company is continuing expansion this year of its filling stations and installation of innovative services. Around 50 million lari has been marked for this," Zubitashvili said.
He added that SOCAR already operates 93 filling stations under its brand in Georgia, of which 29 had been built in 2011. "By year's end, another 15 stations stand to be opened, which will be installed with the latest Japanese-built equipment and technologies," Zubitashvili said.
At the same time, he added that all major stations have carwashes, stores, cafes, and other facilities, which provide additional services to customers.
"This year, filling units for methane from a world-famous firm will be set up at 20 of our stations," the director said.
It was earlier reported that SOCAR Georgia Petroleum was declared the leading taxpayer and investor in Georgia's petroleum sector. The company invested 53.4 million lari in 2011 with its tax payments to the Georgian budget totalling 197.6 million lari. The company has invested 183.9 million lari over the past six years and paid 775.4 million lari in the country's budget.
SOCAR Georgia Petroleum was founded in 2006 and is a 100%-owned subsidiary of SOCAR Energy Georgia, which represents SOCAR in the country. SOCAR is the main supplier of oil, petroleum products and natural gas to Georgia.