Baku, Azerbaijan, July 19
By Tamilla Mammadova – Trend
Fifty percent of shares of the national energy company "Sakrusenergo" transferred under the management of JSC Partnership Fund (PF) of Georgia, said Georgian Prime Minister Mamuka Bakhtadze, Trend reports with reference to 1tv.ge.
The Ministry of Economy and Sustainable Development of Georgia has initiated measures stipulated by the legislation for the execution of this resolution.
JSC UES Sakrusenergo in May 1996, upon a joint decision of the Georgian government and the Unified Energy System of Russia. Its start-up capital is distributed between the founders on a 50-50 percent basis. The company's main function is electricity transmission through intersystem 500 KV electricity transmission lines and maintenance of lines providing the interconnection between national and Russian energy systems.
The overall length of the electricity line managed by the company is 908 km, of which 600 km pass Georgian territory and 308 km lays on the territory of Russia.
The Partnership Fund of Georgia is a state-owned investment fund established in in 2011 with the purpose to provide equity financing to financially viable projects. PF participates in new investment projects in order to decrease the country risks for foreign investors.
The Fund manages several state-owned companies, including Georgian Railway, Georgia Oil and Gas Corporation, Georgian State Electrosystem and a number of others.