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Batumi Terminals Limited to be liquidated

Monday, October 19
Kazakhstan’s KazTransOil company has adopted a decision to liquidate its subsidiary Batumi Terminals Limited, the owner of Batumi Oil Terminal on Georgia’s Black Sea coast, said the message from Kazakhstan Stock Exchange (KASE).

The Board of Directors of KazTransOil JSC adopted a decision on Oct.14-15, 2015 to liquidate Batumi Terminals Limited (Republic of Cyprus) company and appoint Anna Grigorieva & Co LLC its liquidator, said the message.

KazTransOil owns 100 percent of shares of the Batumi Terminals Limited company through which it directly owns and controls the production assets in Georgia – Batumi Oil Terminal LLC and exclusive right to manage the Batumi Sea Port.

Batumi Sea Port is located in the south-east of the Black Sea. It covers an area of 22.2 hectares.