Austria, Georgia to construct HPP
Georgia and Austria signed a memorandum on the construction of Mestia Chaladidi HPP with a capacity of 30 megawatts.
The document was signed by Georgian Energy Minister Kakha Kaladze, representatives of the Austrian company RP Global and the Georgian company Svaneti Hydro on December 17.
The construction will begin in spring of 2015, Kaladze told reporters after the signing ceremony.
“These are significant investments - $45 million, which will contribute to both the rapid development of our energy potential and strengthening the country's regions, creating new jobs,” he said.
After the commissioning of HPP, the local budget will annually receive assessments of 1 million GEL ($1 = 1.84 GEL).
Kaladze said that energy is the most important sphere today in terms of foreign investments.