Georgia: SOCAR Investment Reaches $1bn
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Monday, 02 January 2012 |
The State Oil Company of Azerbaijan (SOCAR) has invested $1bn in Georgia since forming its local affiliate, SOCAR Energy Georgia, five years ago. The announcement was made by SOCAR Energy Georgia head Mahir Mammadov at a ceremony to mark the company’s fifth anniversary.
Mammadov said that the company, which currently controls 80 fuel service stations nationwide, would continue to expand its retail network into 2012. "We have a very good level of relations and we plan to continue close cooperation with local authorities for expansion of our activity in Georgia," he remarked.
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