17/12/2024
09:55
Economic
The Georgian Economy Minister Levan Davitashvili emphasized the Government's commitment to building an "independent, dignified, European state" and underscored the pivotal role of leveraging the country's energy potential in achieving this goal. His remarks were made during the opening ceremony of the Tskaltubo 500 substation in western Georgia.
Davitashvili noted that with appropriate policies and public support, Georgia has the potential not only to meet its domestic energy needs but also to emerge as a reliable energy partner for other nations, including those in Europe. He further outlined the Government's ambition to double the country’s installed energy capacity to 10,000 MW by 2030, a move designed to support sustained economic growth and the development of new, energy-intensive industries.
The Tskaltubo substation project, which received financial backing from the World Bank, was carried out by a joint venture of foreign companies, with Turkish firm BEST leading the construction. The project, which began in 2022, provided employment to approximately 350 individuals and was completed at a total cost of $19.8 million.
Davitashvili also emphasized the importance of enhancing energy connectivity with neighboring countries such as Azerbaijan, Armenia, and Turkey, while pursuing direct links to the European Union via a proposed Black Sea submarine cable project. These initiatives, he stated, aim to attract investment in Georgia's energy sector and facilitate the construction of additional high-standard substations.
The Turkish Ambassador to Georgia, Ali Kaan Orbay, who attended the ceremony, reaffirmed Turkey's position as a "strategic partner" and expressed readiness to collaborate on regional initiatives that promote "peace, stability, and economic development." He also congratulated Georgia on the election of its new President, highlighting the "perfect political and economic ties" between the two nations. Orbay noted that Turkey has been Georgia's top trading partner for the past 15 years, largely due to their free trade agreement, and that the initial trade turnover target of $3 billion has already been surpassed. He mentioned that during the recent visit of Georgia's Prime Minister to Turkey, the trade target had been raised to $5 billion, with efforts underway to exceed this figure.
Additionally, Orbay highlighted Turkey's leading role in direct investments in Georgia, totaling $2.5 billion, with Turkish companies contributing significantly to the development of various sectors in the country. He further stressed the importance of continued cooperation in the energy sector, particularly in major regional projects such as the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Erzurum gas pipeline.
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