Asset Management

Georgian Railway

Georgian Railway operates the national railway system (1,326 km lines and 114 stations) and its rolling stock fleet (139 locomotives, 8,122 freight and 98 passenger railcars and more). The company provides freight and passenger transportation services. As of the end of 2012, Georgian Railway is the country’s largest employer with over 12,000 workers on the payroll.
Share: 100%
Sum. Assets: 2.8 Billion  GEL

Georgian Oil and Gas Corporation (GOGC)

Major activities of the company are import and sale of natural gas and rental of gas pipelines. The company holds the legal status of a National Oil Company and represents the state’s interests in upstream crude oil and natural gas projects in Georgia via Production Sharing Agreements (PSA).
Share: 100%
Sum. Assets: 878.3 Million GEL

Georgian State Electrosystem (GSE)

GSE is an exclusive license holder, providing dispatch services to about 50 eligible companies in Georgia. The company carries out technical control over the entire power system to ensure availability of the system for uninterrupted and reliable power supply. The company is not authorized to purchase or sell electricity.
Share: 100%
Sum. Assets: 1 Billion GEL

Electricity System Commercial Operator (ESCO)

ESCO’s major functions are:


  • Sale and purchase of balancing electricity (capacity)
  • Trading with Guaranteed Capacity
  • Set up and operation of unified database on wholesale trade and unified metering register
  • Providing relevant information to dispatch licensees in order to plan electricity and capacity supply-demand for the whole electric energy system of Georgia.
Share: 100%
Sum. Assets: 33.8 Million GEL

JSC Telasi

JSC Telasi distributes electric power to Tbilisi residents and commercial customers as its main activity. JSC INTER RAO UES owns 75% of Telasi shares, 24.53% belong to the Partnership Fund and the rest (0.47%) to private persons. The company is listed on the Georgian Stock Exchange.
Share: 24,5%
Sum. Assets: 287.4 Million GEL