• Silk Road Group (SRG) is a privately held investment company, owned and run by Georgian and European partners.
  • SRG was founded in 1997 in the Republic of Georgia by George Ramishvili, the current Chairman of the company.
  • Among its other assets and subsidiaries, SRG owns Silknet, the largest fixed-line, cable TV, broadband, and IPTV provider in Georgia.
  • SRG is a diversified company, with activities and subsidiaries in Energy, Transportation, Hospitality, Entertainment, and Real Estate as well as in Telecommunications.
  • Today, SRG employs over 5,000 people in the country, with net tangible assets of over USD 400 million. Jointly with its partners and counter-parties, SRG has facilitated investments of around USD 500 million into the Georgian economy over the last ten years.
  • The company was created with a vision to integrate Georgia with the wider world, and to take advantage of Georgia’s historic position as a key link in the famous Silk Road corridor.
  • Initially the company was focused on modernizing Soviet-era assets and infrastructure to provide more efficient and technologically advanced services to Georgian and regional customers.
  • In the early days of its founding, SRG’s primary focus was on rail transport. Its first major success was to link Georgia with the energy transportation infrastructure of Central Asia.
  • SRG built on this early success to modernize and expand rail operations in the region.
  • Following macroeconomic and political changes in the Republic of Georgia in the early 2000s, SRG embarked on a broad diversification program, initiating new projects in different sectors, including:
    • The renovation of an old Soviet hotel in Tbilisi, which was in disrepair and being used as temporary housing for internally displaced persons from the war in South Ossetia. This was completed in 2009, under the global brand Radisson Blu;
    • The acquisition of United Telecoms Company of Georgia (UTCG), which was the old Soviet telephony infrastructure;
    • Development plans for a hospitality and entertainment center in the port city of Batumi;
    • The expansion of rail infrastructure and operations in the region. (At its peak, SRG’s transportation business operated from 25 regional offices, employed 350 people and was moving up to 2,500 rail cars per month, shipping a variety of cargoes ranging from oil-related products for multinational oil corporations, to commodities on behalf of leading global trading firms, to jet fuel for international military forces, to food products for US agricultural conglomerates. )
  • The growth in SRG’s business from 2000 to 2008 was naturally accompanied by upgrade of the company’s legal and compliance processes, financial reporting and management tools along Western norms, including the adoption of IFRS and the engagement of Big 4 audit firms for the production of audited financial statements.
  • SRG’s business was greatly challenged by the twin crises to hit Georgia in 2008 – the Russian invasion and the global financial collapse – both of which had a severe impact on the financing available for SRG projects.
  • Through hard work and determination, SRG recovered from this crisis, the stalled projects were revived, and new investments planned.
  • SRG continued to strengthen its telecommunications holdings, acquiring two other Georgian fixed line providers, eventually consolidating these holdings into a new company, Silknet, in 2010.
  • SRG’s subsidiary Silknet is today the largest fixed-line, cable TV, broadband, and IPTV provider in Georgia.
  • Looking ahead, SRG is focused building on its success of modernization, technological advancement, and modern business practices to continue to integrate Georgia with the wider world, and provide its customers in Georgia and the broader region world-class services.
  • This includes developing a major real estate project in the city of Batumi, i.e. the “Silk Tower” project, which is expected to boost tourism and further economic development for the city and the region.
  • SRG places high importance on Corporate Social Responsibility (CSR), including sponsorship and support of Georgian culture and landmarks such as the Tsinandali estate, the Georgian national ski team, and the Georgian language version of National Geographic magazine.
  • Throughout its existence SRG has serviced, or partnered with, leading international oil companies, commodity traders, financial institutions, engineering companies, technology providers and professional services firms. These include, but are not limited to, the following: ELF, Total, BP, Glencore, Vitol, Hurricane Hydrocarbons, ISAF (the NATO-led International Security Assistance Force in Afghanistan), the Carlson Rezidor Hotel Group (owner of the Radisson Blu brand), BNP Paribas, Banque Cantonale de Geneve, Fortis Bank, ABN Amro, ING, TBC Bank, Bank of Georgia, Huawei, ZTE, Orange, the Smithsonian Institute and National Geographic.

The Silk Road Group: Its History and Vision for the Future