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Japanese TEPCO aims to invest in Georgian energy industry

Oil&Gas Materials 2 May 2020 16:10 (UTC +04:00)
Japanese TEPCO aims to invest in Georgian energy industry

BAKU, Azerbaijan, May 2

By Tamilla Mammadova - Trend:

Tokyo's largest energy company Tokyo Electric Power (TEPCO) plans to invest in Georgia, Trend reports citing Georgian media.

“Although in the current situation, the global economy has practically entered a recession and business activity is very limited, this did not become an obstacle for a number of large investors and companies to enter the Georgian market. These days it became known that one of the Japanese giants, the TEPCO company, showed interest in our energy market. These are the largest direct Japanese investments in the history of Georgia,” said Minister of Economy and Sustainable Development of Georgia Natia Turnava

Turnava added that amid global problems, Georgia has new opportunities, as many investors are now thinking about moving their production capacities from China because of the coronavirus pandemic, which has led to disruption of the supply chain between trading partners.

“The negotiations are underway. A number of Japanese, South Korean and German companies have already expressed a desire to transfer part of their supply chain to Georgia, because we offer an attractive democratic business environment, a stable economy, transparent legislation, low taxes and updated programs that will be presented as part of the post-crisis plan. At the same time, we will offer them additional leverage to show how priority the Georgian market is for foreign companies and their successful activities,” Turnava said.

TEPCO is the operator of the Fukushima-1 nuclear power plant, which suffered a major accident in 2011 due to a powerful earthquake and tsunami. Currently, the holding with several subsidiaries operates in four business segments. The wide range of activities of TEPCO varies from the provision of consulting services to the production of chargers for electric vehicles.

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