SOCAR invests over $470 million in Georgian economy

SOCAR has invested some $470 million in Georgia, Trend reports, citing a government source.
SOCAR runs dozens of gas distribution networks in Georgia. The company also owns the oil terminals in Kulevi. Azerbaijan exports its oil and gas through the Baku-Tbilisi-Ceyhan oil pipeline and the Baku-Tbilisi-Erzurum gas pipeline through Georgia.
The company is also actively developing its activity in the retail sales of oil products in Georgia. About 37 petrol stations under the SOCAR brand operate in different regions of the country.
A source said that SOCAR intends to open 23 more petrol stations in Georgia by late 2010, bringing the total number up to 60 units.
SOCAR's interests in Georgia are represented by its subsidiary SOCAR Energy Georgia. Its co-founders are: SOCAR - 51 percent, Petro-Trans FZCO - 24.5 percent and Ivan Chkhartishvili - 24.5 percent