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Georgia can sell its railway to Russia - experts

2010-07-08 10:56

Georgian Railway can pass under control of Russia, the National Centre of Economic Research says -Business Gruzia.

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Several days ago the government announced intention to place Georgian Railway obligations at the sum of USD 250 mln at the London Stock Exchange. The term will amount 5-7 years. For this very purpose Nika Gilauri is holding Road-Show in London.

The Centre claims the placement of railway obligations can be a prerequisite for its sale. They also suggest the main creditor at the London Stock Exchange will be Russia, which has been showing interest for this railroad for a long time. The researchers though don't mention whether it's good or bad for Georgia.

Two years ago the railway was removed from the list of Georgian objects not to be privatized.

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