Georgia to annually receive $20 million for transit and electricity for Anaklia port

Photo: Georgia to annually receive $20 million for transit and electricity for Anaklia port  / Georgia

Tbilisi, Georgia, Aug.26

By Nana Kirtzkhalia - Trend:

An agreement signed in Yerevan between Armenia and Georgian Anaklia IEP (Industrial Eco Park) Holding company provides for an annual payment of $20 million to Georgia for transit and full electricity supply of construction and operation of the port Anaklia, CEO of Anaklia IEP Holding Teimuraz Karchava said Aug. 26.

According to the agreement, on the territory of the former Kirovokan CHP a gas-fired power with capacity of 540 megawatts will be built in the city of Vanadzor, which will consist of two units with a capacity of 270 megawatts each.

For the implementation of the project Anaklia IEP Holding will invest about $600 million. The government of Armenia will assist in the provision of land, permits, tax incentives, guarantees of the supply of gas, electricity connection to the power lines and unfettered export.

Building and operation of a gas power plant will be set up by the Armenian Anaklia Energy Company. For the period of construction and the first five years of operation, the Armenian government releases Anaklia Energy from taxes. Almost all of the generated power, 4 billion kilowatt hours per year will be exported.

Karchava emphasized that electricity generated in Vanadzor will be used for projects of Anaklia IEP Holding international consortium established in Georgia with the participation of world-renowned companies British Eco Power, China Power, Citic Group (Hong Kong ), and firstly for the port of Anaklia.

" The gas power plant in Vanadzor, in fact, is the first investment in the construction of the Anaklian port," said Karchava.

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