Deadline to Offer Privatization Bid for Shipping Co. Prolonged

Incoming Economy Minister Lexo Alexishvili told reporters on December 27 that the deadline for applying to purchase the Georgian Ocean Shipping Company has been extended until January 10, 2005.

The initial deadline to offer a privatization bid was December 27.

On December 17 the Georgian government signed a preliminary agreement with the Greenoak Group, a major investor company in Georgia, agreeing to sell the Georgian Ocean Shipping Company for USD 107 million.

However, according to the Economy Ministry, there are currently several other foreign companies that have also expressed interest in purchasing the shipping company.