Georgian Prime Minister held a working meeting with Vice Prime Minister/Minister of Economy and Sustainable Development Levan Davitashvili, Deputy Minister Guram Guramishvili, and CEO of Georgian Railway JSC David Peradze.

It was emphasized that 2022 proved the best year for Georgian Railway in terms of profit, which made up 283 million GEL, a record-breaking indicator. Equally record-breaking was the throughput indicator, with the annual growth in this direction reaching 22%.

Plans for railroad development in the future were also discussed. It was noted that progress toward modernization has been achieved this year. In addition, it was emphasized that, as a result of modernization, cargo throughput will increase from 27 million to 48 million tons by the end of 2024.

It was noted that large-scale work has been carried out toward updating the railcar fleet and upgrading infrastructure. The company has already received 100 railcars manufactured in Georgia. Railroad modernization and infrastructural upgrading will continue this year, and its operations will grow even more effective.

87% of the Baku-Tbilisi-Kars railroad project has been completed. This section is 180 kilometers in length, working in the test mode at this stage. As a result of the completion of the project’s first phase, which is planned for 2024, the section’s throughput capacity will be 5 million tons.

The conversation at the meeting also touched on the Draft Law of Georgia on Amending the Georgia Railway Code, which envisages reforming the rail transport industry. It was noted that the launch of the rail transport industry’s reform, and the implementation of its initial phase, is of vital importance for aligning Georgia’s transport legislation with EU legislation and for shaping a new institutional framework in the area of rail transport-the state’s role in the area of rail transport will be defined in terms of implementing state policy, supervising the industry, and regulating safety.

It was noted at the meeting that, as a result of reforming and restructuring the rail transport industry, Georgian Railway, a company with a history spanning 150 years, will become even more competitive, and opportunities for fully realizing its commercial interests and safety management will grow dramatically.