157 companies conditionally waived billion GEL in fines; development of 1,560 MW projects to continue - PM Kobakhidze
“157 companies have had a billion GEL in fines conditionally waived. Some declined to take advantage of the offer, leading to the discontinuation of 535 MW projects, while the implementation of 1,560 MW projects will proceed,” stated Georgian Prime Minister Irakli Kobakhidze during today’s government session.
As Kobakhidze emphasised, energy remains a sector of particular importance.
“As you are aware, a few months ago we decided to conditionally waive fines and penalties for energy companies, and this process has now been completed. In total, 157 companies benefited from the conditional forgiveness of fines amounting to a billion GEL. Some companies chose not to utilise this opportunity, resulting in the discontinuation of 535 MW projects, but the development of 1,560 MW projects will continue. Naturally, this decision by the Georgian government will serve as a fresh impetus for the growth of our country’s energy sector,” Irakli Kobakhidze stated.
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Irakli Kobakhidze, Prime Minister of Georgia together with the Minister of Infrastructure Revaz Sokhadze and Head of Government Administration Levan Zhorzholiani met with representatives of companies united in the Infrastructure Builders Association, the Government Administration reported.
During the meeting, participants discussed the needs faced by businesses and the measures under consideration by the Government to support Georgian companies.
The Head of Government of Georgia noted that continuous consultation with the private sector is a priority for the Government, in order to ensure that, during the implementation of projects, both the interests of the State are safeguarded and a healthy environment for businesses is maintained.
Particular attention was paid to challenges related to the quality of project implementation. It was emphasized that adherence to appropriate standards, quality and timelines in the execution of state projects is critically important and no compromises will be made in this regard.
The parties agreed to continue communication with the private sector, which will contribute to further refining existing practices and enable the State to implement high-quality projects at fair market prices.
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