Georgia is set to build an oil refinery plant

Georgia is set to build an oil refinery plant

access_time2020-02-17 17:10:48

Fazis Oil company and the international consulting company Deloitte & Touche are working on the  high-tech oil refinery project which is planned to be built on the Black Sea coast, in the village of Kulevi.

According to Fazis Oil Director General Gia Shavdia, the oil refinery plant  will be operated by the company Cepsa.

“We’ve entered  the stage of active preparation and are working on a licensing agreement with Royal dutch Shell and Axen. Negotiations on the plant operation are also underway with several international companies, and work is underway on a memorandum to be signed with Cepsa, ”he says.

Gia Shavdia notes that after the plant starts operating, fuel prices in Georgia will fall by 15-20%.


The oil refinery plant  will produce the environmentally friendly fuel of Euro 5 and Euro 6 standards, which will mainly be sold on the local market that will cut the import of petroleum products.

The plant construction is set to begin in 2021. In  5 years after commissioning, the plant will start operating at full capacity and  the Georgian budget will receive $ 50 -60 million a year in taxes.


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