BAKU, Azerbaijan, March 10
By Tamilla Mammadova – Trend:
A 25-year license to extract minerals from a water deposit in the village of Mukhrani (Mtskheta municipality) was put up for auction in Georgia, Trend reports citing the Georgian media.
The initial price of the license is 1.5 million lari ($538,346).
During the license period, a potential investor will have to employ at least 10 Georgian citizens.
According to the information of the National Agency for Mineral Resources of Georgia, under the terms of the license, within two years after its entry into force, the potential investor should study water resources' reserve, calculate fresh water reserves and submit a report to the relevant authority for approval of mineral reserves.
In addition, in order to study underground fresh water reserve, a potential investor must invest at least 3.5 million lari ($1.2 million) within two years after the entry into force of the license.
The online auction will end on March 11.
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