Georgian Railway transferred about $172 million to state budget from 2003-2012

Georgia, Tbilisi, Oct.29/ Trend, N.Kirtskhalia / In 2003-2012, JSC Georgian Railways transferred 285 million lari ($1=1.66 lari) to the state budget, former CEO of Georgian Railways, Irakli Ezugbaia told journalists on Friday. He said Georgian Railways which has been operating at a loss since 2003 became profitable and finished 2011 with a profit worth 174.4 million lari. The company is also one of the country's major taxpayers. The average contribution of Georgian Railways was 51.6 million lari in 2005-2012. However, as Ezugbaia said, Georgian Railways is a leader in the world for its level of profitability. According to Georgian Railways, its credit rating equals to the sovereign rating of Georgia and is a maximum figure. Do you have any feedback? Contact our journalist at agency@trend.az