The government of Georgia is seeking investors to develop on a build, operate, and transfer basis what would be the country’s first refinery.
The proposed facility, to be constructed in the Black Sea coastal town of Poti along the left embankment of the Rioni River, should have a minimum refining capacity of 2 million tonnes/year and be ready to start production no later than December 2018, according to documents recently posted to the web site of the Ministry of Economy & Sustainable Development of Georgia (MESDG).
Developers of the potential refinery, which must be able to produce a fuel slate that conforms to no less than Euro 5 quality standards, also will guarantee that 20% of the plant’s production will be offered into Georgia’s local market, MESDG said.
Georgia’s campaign for the grassroots refinery comes amid increasing demand for oil products on local and regional markets, current infrastructure development in the region, and the country’s proximity to crude oil-producing regions, MESDG First Deputy Minister Dimitry Kumsishvili told potential investors at a November 2014 meeting to introduce the project.
Investors seeking to participate in the project must submit a completed expression-of-interest package to MESDG by Feb. 10.
