Georgia, Tbilisi, March 19 / Trend N.Kirtzkhalia /
The Turkish company Colin will build a new hydropower cascade on the Kekhura River in the Samegrelo region of Georgia, Georgian Energy Minister Alexander Khetaguri said.
He said three companies - Turkish, German and a Canadian - participated in the tender for the construction of cascades, consisting of four hydroelectric power stations.
Tender bids were discussed at a cabinet meeting and Colin was chosen.
The company has to build a cascade of a hydropower plant at 104 megawatts in the next three years, he added.
"The company submitted a bank guarantee as to the period of preparation and construction. Guarantees for the preparatory period were $2 million and construction was $10 million. The investments will amount to $150 million," the minister said.
The minister said a memorandum would be signed within 10 days and the company must submit a building permit within nine months.
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