Georgian Hydropower Station to be Sold by Auction
Georgia, Tbilisi, 21 November / Trend corr. N.Kirtzkhalia/ The Georgian Ministry of Economic Development puts Ortachala Hydro Power Station (HPS) up for auction and its starting price makes up AZN 25mln.
A total of 100%of stakes, which belong to state, will be offered at the auction, the Ministry said.
The HPS has a lease agreement with Ortachalenergy Open Joint Sock Company (OJSC) and it will be abolished on 7 January in 2009. A new owner should provide annual output at more than 70% of the HPS's capacity.
Application will be received by 19 December. The auction will take place at 05.00pm on the same day.
The correspondent can be contacted at: [email protected]