Top energy conglomerates from China to invest in Georgia
By Gvantsa Gabekhadze
Thursday, June 16
One of China's top energy conglomerates, CEFC China Energy, is expressing interest in investing in Georgia, and not only in the energy sector.
A delegation from the company and Georgia’s Prime Minister Giorgi Kvirikashvili sat down in Tbilisi late on June 14 to discuss the prospects of future cooperation in the fields of energy, finances, tourism, transport and logistics.
The PM provided detailed information for the guests about the country’s investment opportunities and stated a special working group would be created to facilitate cooperation between the Government of Georgia and the CEFC China Energy.
The working group will be chaired by Georgia’s Minister of Economy Dimitri Kumsishvili.
Meanwhile, over the next month, the company will host an investment forum in Shanghai that will serve as an additional opportunity for both sides to agree on certain issues.
CEFC China Energy is a private Chinese conglomerate. With revenue of 35 billion USD in 2014 alone, the company is among the 10 largest private companies in China.
In 2014, the company generated revenue mainly from oil and gas (60percent) and financial services (25percent), but operates also in a wide range of other sectors like transport infrastructure, forestry, asset management, hotel management, warehousing services, real estate development and logistics services.
A large portion of CEFC's assets is concentrated in the overseas markets. Most of the company is owned by Shanghai Energy Fund Investment Ltd (SEFI), which is registered under Ye Jianming name, the chairman of CEFC.
