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:
"Synohydro Corporation Branch in Georgia"
● Income in 2019 - 121,762,774 GEL;
● Income in 2018 - 87,404,870 GEL.
● Net profit in 2019 - 17,520,212 GEL;
● Net loss in 2018 - -21,108,597 GEL.
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 2019 - 25,232,709 GEL; Net Profit – 95 million GEL;
● Income in 2018 - 130,188,561 GEL;
● Net loss in 2019 - -7,711,996 GEL;
● Net profit in 2018 - 95,062,402 GEL.
The permanent branch of China Railway 23rd Bureau Group Ltd was opened in Georgia in 2010. The company is engaged in several projects, including modernization of Georgian railway, construction of Samterdia-Grigoleti and Kvesheti-Kobi road sections.
China Road and Bridge Corporation
● Income in 2019 - 30,038,044 GEL;
● Net profit in 2019 - 2,646,592 GEL
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.
