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Chinese Investment in Georgian Energy Sector

Published: October 22, 2013 | 2:43 pm
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Chinese investment in the Georgian energy sector- the company Georgian Hydro Power, together with its Chinese partners, is planning to construct a new 300mw hydroelectric power plant in the country. The company’s Director General and the Minister of Energy have signed a short term memorandum today. According to Kakha Kaladze, Georgian Hydro Power will first be conducting technological research on the Ubisa HPP and Akavreta HPP, in Imereti and Adjara respectively. The volume of investment is expected to be $30-35 million.
According to Shamil Birkadze of Georgian Hydro Power, the Georgian-Chinese consortium’s interest in conducting HPP projects in the country has arisen due to the recently introduced regulations, which have facilitated matters for the investors.
The legislation regarding the cooperation with investors encompasses 11 new regulations. They include the simplification of the process of obtaining construction permits, as well as a reduction of the share of the electric energy which companies are obliged to distribute locally to 20%.

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