A major part of the largest infrastructure projects in Georgia is fulfilled by Chinese construction companies. These companies are fulfilling state orders worth hundreds of millions of GEL and basically are engaged in the construction of road highways, railways and tunnels.
However, these companies are obliged to disclose their financial results due to the large turnover. According to their audit reports, the companies have several millions of income for the implementation of their infrastructure projects.
Financial results of Chinese corporations:
China Road and Bridge Corporation, which is engaged in Rikoti project cost of 901 million
•Income in 2020 – GEL 159.8 million;
•Income in 2019 - GEL 30 million;
•Net Profit in 2020 – GEL 19 million;
•Net Profit in 2019 – GEL 2.8 million.
The company’s assets amount to GEL 295 million.
Company China Road and Bridge Corporation was founded in 1979. The company built more than 200 highways with a total length of more than 10 000 km. Now, Company China Road and Bridge Corporation is engaged in Rikoti project cost of 901 million.
Synohydro Corporation Branch in Georgia
● Revenue in 2020 - GEL 84 million;
● Revenue in 2019 - GEL 121.7 million;
● Revenue in 2018 - GEL 87.4 million.
● Net profit in 2020 - GEL 46.2 million;
● Net profit in 2019 - GEL 17.5 million;
● Net loss in 2018 - GEL -21.1 million.
Assets of Synohydro Corporation Branch in Georgia amounts to GEL150 million.
The branch of the Chinese state corporation Synohydro was established in Georgia in 2010. The corporation’s projects include Kobuleti by-pass road, section of Tbilisi-Rustavi road, Zemo Osiauri Chumateleti Highway Road, road section of Samtredia-Grigoleti.
China Railway 23rd Bureau Group
● Income in 2020 - GEL 6 million;
● Revenue in 2019 - GEL 25.2 million;
● Revenue in 2018 - GEL 130.2 million.
● Net loss in 2020 - GEL -15 million;
● Net loss in 2019 - GEL -7.7 million;
● Net profit in 2018 - GEL 95 million.
The assets of China Railway 23rd Bureau Group totals to GEL 194 million.
The permanent branch of China Railway 23rd Bureau Group Ltd was opened in Georgia in 2010. The company is engaged in several projects, including the modernization of Georgian railway, construction of Samterdia-Grigoleti and Kvesheti-Kobi road sections.
China Railway Tunnel Group:
Another large Chinese corporation, China Railway Tunnel Group Co., operates in Georgia and builds a 9-km Kvesheti-Kobi tunnel. The volume of the contract with the company is GEL 909 million.
China Railway Tunnel Group Co., Ltd. (CRTG) was founded in 1984 and is the largest engineering enterprise in China for tunnel construction and underground works. The company has an annual turnover of USD 5.5 billion.
