Tbilisi, Georgia, Dec.17
By Nana Kirtzkhalia - Trend:
Georgia and Austria signed a memorandum on the construction of Mestia Chaladidi HPS with a capacity of 30 megawatts Dec.17.
The document was signed by Georgian Energy Minister Kakha Kaladze, representatives of the Austrian company RP Global and the Georgian company Svaneti Hydro.
The construction will begin in spring of 2015, Kaladze told reporters after the signing ceremony.
"These are significant investments - $45 million, which will contribute to both the rapid development of our energy potential and strengthening the country's regions, creating new jobs," he said.
After the commissioning of hydroelectric power plant, the local budget will annually receive assessments of 1 million GEL ($1 = 1.84 GEL).
Kaladze said that energy is the most important sphere today in terms of foreign investments.
Edited by CN