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Poti Airport Bankruptcy Proceedings Finished

Bankruptcy proceedings against JSC Poti Airport has been finished. Decision about cancellation of registration of JSC Poti Airport in Entrepreneurship Registry should be forwarded to National Agency for Public Registry (NAPR).

Seven transport varieties and seven real estates were registered for JSC Poti Airport. National Enforcement Bureau (NBE) has appraised this property. Market value of the property totaled 23 050 GEL.

NBE has sold the mentioned property at public auction and the property was sold as a joint complex. Total proceeds from the auction made up 17 518 GEL, including 18% of the mentioned sum (2672.24 GEL) was transferred in the form of VAT to the state budget. The remaining sum totaled 14 845.76 GEL. 

JSC Poti Airport was transmitted to the state at the end of 2016. Previously, it was owned by RAS Al Khaimah Investment and the agreement on purchase of 98.26% stake in Poti Airport was terminated. In exchange, RAS Al Khaimah Investment Authority Georgia will be freed of fine imposed on the ground of September 16, 2011 agreement.

LLC RAS Al Khaimah is a subsidiary of RAKIA Georgia, which used to own Poti Free Industrial zone that was also transmitted to the Government. 

We remind you the previous Authorities planned to construct Poti Seaport. In 2012 the Government appraised the project as an unjustified one.