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Iran, Georgia sign power plant agreement

Business Materials 5 January 2010 11:47 (UTC +04:00)

Iranian Energy Minister Majid Namjoo and his Georgian counterpart Alexander Khetaguri agreed that a contract be signed by an Iranian company for the construction of two hydro-electric power plants with a total capacity of 36 megawatts in Georgia.

The Mehr News Agency reported that Sanir Company from Iran and G.I.G. from Georgia will complete the project in a time frame of about 54 months.

The project will be built in the west of Georgia at an estimated cost of 68 million euros.

The Export Development Bank of Iran will finance the project. 

This project is one of the biggest industrial development plans between the two countries.

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