Kazakh state company KazTransGaz will invest $100 million in Tbilisi gas supplying system rehabilitation instead of previously planned $80 million. Serik Sultangaliev, Director General, has said today at news conference that investment program has been redesigned, so it is intended for completion by 2009 instead of previously planned 2011.
Investments will be used for replacement and rehabilitation of underground communications and polyethylene pipes installation, Sultangaliev said. Repairs are scheduled to launch from September. Total length of Tbilisi gas supplying net is up to 2,420 km.
KazTransGaz is owner of Tbilisi gas distributing company, KazTransGaz-Tbilisi, since 2006. As the company notes, investment totaled to $50 million up to present.
Giorgi Koiava, KazTransGaz-Tbilisi Director General, said that investors are satisfied with performance of the company, which results in decision on investment volume increase.
Koiava mentioned that consumed gas payment collection rate makes up 96-98% now, while commercial losses were cut from 70% to 26% during a year. The latter showing is planned to reduce further to 20% by the end of 2007, while in next two years - to 9%, he noted.
