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Romanian Business Group to Build the Black Sea Oil Refinery

Published: September 11, 2013 | 1:00 pm
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TV3 has found out that the oil refinery at the Black Sea, the construction of which has earlier been announced by the Prime Minister, could be built by a Romanian business group. Bidzina Ivanishvili talked about the possibility of the $1 billion construction project during his official visit to the Baltic States. According to reports, a special business group is working on the Black Sea oil refinery construction project. The Minister of the Economy has told TV3 that the project is expensive, and the group is currently looking for ways to finance the construction. According to him, the investment will provide the country with an opportunity to diversify its energy distribution, and to increase its export potential.
Talks about the construction of an oil refinery in Georgia began under the previous government. Azerbaijan was named as a potential source for investment at the time. However, the Azeri company SOCAR later chose to conduct the $1 billion construction project of a carbamide factory instead.

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