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Hydrolea Considers Leaving Georgia due to Complication of Market Forecasting

Hydrolea Considers Leaving Georgia due to Complication of Market Forecasting

The investor is not excluding leaving of Georgia due to the complication of energy market and tariff policy forecasting.

Radoslav Dudolenski, executive director of “Hydrolea” has declared on the review of investment policy at the business conference held within the frame MEETING ROOM of “PASHA Bank”.  noted on the investment portfolio of $22 million, he also added, that 7 projects were envisaged, but he would review plans and risks afresh.

“Whether I will continue investments or not in Georgia”, – the investor notes, that he needs to make analysis from the different points of view. When he is counting the profit and expenditure growth are fixed, when production is declined, he starts estimating the project as the entrepreneur. The risks are raised due to the several factors, cheap gas does not exist, and area of energy export is restricted in Russia, Armenia and Azerbaijan. What the market will be like in 2-3 years is not clear: totally regulated, semi-regulated or liberal.

Radoslav Dudolenski makes focus on the barriers, internal rules of local governance: “self-profit; closing of ways”. Holders of “Hydrolea” are: (62%) Cross Country Capita A.D (Bulgaria) and Ioseb Natroshvili (37.75%). However, Dudolenski has been occupying position of general director at JSC “Energo- pro Georgia” for several years (until May, 2013).