Tbilisi, Georgia, Jan.2
By Nana Kirtzkhalia - Trend:
The Partnership Fund of Georgia and South Korea's K-Water company signed an agreement to construct a 280-megawatt Nenskra hydro power plant.
The agreement envisages the development of the project and direct construction, the Partnership Fund told Trend.
"A general project was worked out and a road to the construction site was paved with this purpose," CEO of the Partnership Fund Irakli Kovzanadze said.
"It is also important that the construction of the hydro power plant doesn't entail such standard problems as the resettlement of the local population or environmental problems," he added.
Kovzanadze said that the whole volume of the produced electricity will be used in the local market.
The plant's eventual output will be 1.2 kilowatt hours. The project's total investment value is $1 billion.
It is planned to construct the hydro power plant in five years.