Turkish company abrogates contract on HPP construction in Georgia

Photo: Turkish company abrogates contract on HPP construction in Georgia / Oil&Gas

By Nana Kirtzkhalia - Trend: Baku, Azerbaijan, Dec 9, 2013: Turkish firm Kolin Construction, Tourism, Industry and Trading, unilaterally revoked a contract with the Georgian government on construction of a hydro power plant (HPP) on the River Tskhenistskali in the Tsager region (Western Georgia).

The Turkish side has already officially notified the Georgian Ministry of Energy, and the ministry will have to return a bank guarantee to the sum of $2 million to the company.

There is no information as to why the Turkish company has pulled out from building the HPP.

The Turkish company was due to build an HPP with capacity of 110 megawatts on the River Tskhenistskali by 2015, according to a memorandum signed in 2011.

Translated by lz

Edited by sm

Follow us on Twitter @TRENDNewsAgency

Tags: HPP, Georgia