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Investor Denies Negotiations about Implementation of “KhudoniHPP” Project by the State

According to “Trans Electrica Georgia” technical manager David Mirtskhualava, the talks regarding the implementation of “KhudoniHPP”  project by the state have not been  held with the   company.
“According to my information, talks on the issue have not been  held with  the company and investors. As for  the state’s participation in  the construction of any power generating  object,  I think that  the Minister meant the possible ways of creating maximally effect environment for  investors.

In particular, I know there are some suggestions that if the state participates in the generating object’s capital, in theory this fact may reduce the risks for investors in the country. I think that the conversation was not entirely about the state-owned power generation facilities and  the state was probably considered to be a minority shareholder in the capital of a certain power generation facility for a limited period of time, “- says Mirtskhulava.

He says  “Trans Electrica Georgia” has fulfilled all the requirements and obligations, which was envisaged  both under  a domestic law and international regulations for this type of projects.

“Lots of unique studies have been carried out in Georgia, the company is ready to continue the procedures in accordance with the Georgian  legislation for obtaining a construction permit,” – Mirtskhulava adds.