Tbilisi (GBC) – First Vice Prime Minister, Minister of Economy and Sustainable Development Levan Davitashvili will attend the presentation of the oil refinery project in Kulevi village of Khobi municipality. This is the third attempt to build this factory since 1012. The first attempt was made by the Azerbaijani SOCAR, the second time the government entrusted the construction of Phasis Oil, which spent 7 years not building it, and now the realization of the project was entrusted to businessman Maka Asatiani's LLC "Black Sea Petroleum".

In particular, the construction of an oil refinery in the free industrial zone of Kulevი has been planned since 2012, and "Black Sea Petroleum" LLC is the third investor in the project, which should invest $30 million on the site.

To remind, construction of an oil refinery in Kulev FIZ has been planned since 2012, when an investment agreement was signed with Socar during the time of the previous government, but the mentioned project was not implemented. After that, the obligation to implement the project was transferred to the company Phasis Oil, which failed to fulfill its obligations, due to which the government replaced the investor and in 2023 the project was handed over to "Black Sea Petroleum" LLC. It is worth noting that "Phasis Oil", which failed to build an oil refinery in Kulevi for 7 years, was fined by the state, although later it wrote off the fine of more than USD 20 million.