Oil refinery in Batumi to be sold by auction

An oil refinery in Batumi will be on sale at an auction tomorrow, GHN reports.

According to the Ministry of Economy and Stable Development of Georgia, the starting price of the facility is $14.5 million. According to conditions of the auction, the buyer will pay 50% of the price within 30 days.

The rest will be covered by the owner until December 1st, 2010. Another two conditions are that the owner will exploit it according to standards and rules and cannot employ a discriminatory policy towards regional consumers.