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Dongfang Electric Invests $200m in Georgia’s Tkibuli Thermal Power Plant

One of China’s largest enterprises has expressed its interest to invest almost $200 million USD in Georgia’s energy sector.

State-owned enterprise Dongfang Electric has pledged to contribute about $180-$200 million for construction of a 150 megawatt Thermal Power Plant (TPP) in Georgia’s western Tkibuli region.

Dongfang Electric is one of China’s most influential corporations that engage in the manufacturing of power generators and the contracts of power station projects locally and around the world.

The generous investment offer was made at a meeting between Georgia’s Prime Minister Irakli Garibashvili and Dongfang representatives today, in the frame of the World Economic Forum in China.

The corporation said it was prepared to invest $180-200 million USD in the TPP, which project was drafted by Georgia’s Industrial Group.

The TPP is understood to operate using coal energy and produce one billion kilowatts of energy annually.

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Dongfang Electric was founded in 1984 and is based in Chengdu, the capital city of the Sichuan Province. Its subsidiary is Dongfang Electric Corporation Limited (DEC), which is one of the largest backbone enterprise groups under the direct administration of the Chinese Central Government.

With its main business on large-scale power equipment manufacturing, power projects contracting and power plant service, DEC is one of the largest manufacturing centres for power generation equipment, stated the company’s website.

DEC is a listed company with stock listing in the Hong Kong Stock Exchange and the Shanghai Stock Exchange.

Meanwhile, Garibashvili and a Georgian delegation are scheduled to remain in China for the duration of the Work Economic Forum, being held in China’s major port city Dalian. The international conference started on September 9 and is due to finish on September 13.