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Georgian Railway to get additional revenue for methanol transit

Monday, September 22
Georgian Railway Joint Stock Company will receive an additional profit of $20 million for the transit of methanol, a chemical used as reagent, fuel, in electricity generation, etc.

The company told Trend Sept. 19 that after successful talks, it was agreed to annually transport 600,000 metric tons of methanol.

The Georgian Railway said it has already transported the first shipment of methanol in the volume of 5 million metric tons.

“Methanol has not been transported by rail in the South Caucasus over the past decades. Now for its transit Georgia will annually receive $20 million,” the Georgian Railway said.

In the first six months of 2014, Georgian Railway’s profit was 232.4 million Georgian laris (about $133 million as of Sept. 19), or 8.4 percent more than in the first half of 2013, according to official statistics.

The company’s revenues from transportation over the mentioned period rose by 5.7 percent versus the first half of last year standing at 175.1 million laris.

This was associated with an increase in the transportation of dry cargos.