08.Dec .2022 18:00

How Much Revenue Do Gov't Contractor Chinese Companies Have?

How Much Revenue Do Gov't Contractor Chinese Companies Have?
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A significant part of the largest infrastructure projects in Georgia is fulfilled by Chinese construction companies. For the construction of road and railway highways and tunnels, these companies fulfill state orders worth hundreds of millions of GEL. Due to a particularly large turnover, these companies are obliged to publish their financial results.

Financial results of Chinese corporations:

"China Road and Bridge Corporation" (CRBC), which is building the 902-million Ubisa-Shorapni road section:

● Income in 2021 - GEL 223,204,085;
● Net profit in 2021 - GEL 11,740,565.

Major projects of CRBC are:

Construction of 13 km 4-lane concrete road, 27 bridges and 18 tunnels on Ubisa-Shorapani road section. The length of the tunnels varies from 300 meters to 1600 meters, and 13 of the 27 bridges are located in the direction of Tbilisi-Argveta, and 14 - in the direction of Argveta-Tbilisi. The works are financed by the European Investment Bank.

Vaziani-Sagarejo highway Lot-1, the project envisages the construction of 23.8 km of highway and 13 bridge crossings.

"Corporation Sinohydro Branch in Georgia"

● Income in 2021 - GEL 57,091,277;
● Loss in 2021 - GEL 28,711,844.

Projects of "Sinohydro" include the following projects: 12.4 km section of Kobuleti bypass; Construction of the first and third sections of the Tbilisi-Rustavi section; 5.8-kilometer section of Zemo-Osiauri-Chumateleti high-speed highway construction work; Construction of the 19.5-km section Samtredia-Grigoleti road.

"China Railway 23rd Bureau"

● Income in 2021 - GEL 31,510,046;
● Net loss in 2021 - GEL 43,432,440.

"The permanent branch of the 23rd Bureau Group of China Railway" was opened in Georgia in 2010. The owner of its control package is "China Railway Construction Corporation".