MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Swiss Stadler Rail AG – a leading manufacturer of railway rolling stock, considers building a factory in Georgia. Relevant Memorandum of Understanding between the Stadler Rail AG and Georgia was signed by the Minister of Economy and Sustainable Development of Georgia, Giorgi Gakharia and the Stadler CEO, Peter Spuhler. Prime Minister of Georgia, Giorgi Kvirikashvili, attended the signing ceremony held at the Government’s Administration.  

Upon the signing of the Memorandum, Swiss company launched the feasibility study of Georgian market. The implementation of the project foresees the manufacturing of the new trains and train wagons as well as provision of repair services. Stadler Rail AG leadership gives a very positive evaluation of the Georgia’s investment potential and therefore, considers the construction of the factory here.

“Today we have signed a Memorandum of Understanding, which describes our future steps in order to have production of the railway rolling stock of modern technologies and highest standards in Georgia. We will move very fast on the stage when we establish a joint stock company in Georgia and construct a factory that will launch manufacturing of our goods. Georgia has gone through the process of modernization very quickly during the recent years and we are pleased to have the opportunity to develop our production here,” – the CEO of the Stadler Rail AG, Peter Spuhler commented upon the signing of the Memorandum. 

According to the Minister of Economy and Sustainable Development of Georgia, Giorgi Gakharia, the Stadler Rail AG is a reference company of the highest quality in the sector. “Having a factory, which that produces trains, wagons and offers repair services, is of outmost importance for us. Another issue is the localization and although the localization is not going to be high at the beginning, we should work and achieve as high level of localization as possible. Such large companies can bring significant benefit to our country and I should also specially emphasize on the export potential that Georgia has and can offer to such companies,” – Giorgi Gakharia noted.

“Having the Stadler Rail AG here, in Georgia is an outstanding case. This Swiss company enters Georgia bringing new technologies, management. It is a company with the highest possible qualification and trustworthiness. This fact will serve as an additional stimulus to expand export and get closer to the regional markets. At the same time, the company will provide us with the opportunity to repair services for the rolling compound park, renew this park, which is an integral part of the modernization of the railway industry and sector itself. The Stadler Rail AG enters Georgia and this is an event of paramount importance for our country,” – the Chairman of the Georgian Railway Supervisory Board, Koka Guntsadze commented.

According to the company’s representatives, depending on the terms of the elaboration of the production scheme and conduction of the feasibility study, it will be possible to start the construction of the factory by the end of the next year. Georgian Government confirmed its readiness to facilitate the project implementation within the frames stipulated by the legislation.