Co-Investment Fund: Mtkvari HPP, Luxury Collection and PULLMAN Projects will Be Finished in 2021

The Co-Investment Fund of Georgia plans to finish the implementation of several projects in 2021, including the Mtkvari HPP construction project with a 1.9% ratio in Georgia’s total annual consumption, Luxury Collection’s project worth $101 million, and PULLAM hotel of AXIS Tower.

As the Co-Investment Fund representatives noted, the Fund unites 9 projects in various sectors, including 3 ones in the agriculture sector: Georgian Greenhouse Corporation, GeoAgro, and Georgian Agro House; two projects in real estate fields: Axis Towers and Gallery Tbilisi; manufacturing sector: Heidelberg Cement and 3 major projects in the energy field: Mtkvari HPP, Oni 1 and Lentekhi HPP.

“We expect international flights and tourism sector to resume operation in 2021. Amid improving the epidemiological situation, in 2021 we plan to open the Luxury Collection hotel of Marriot brand on Freed Square, while Pullman hotel will open at Axis Tower, where a footpath will connect Chavchavadze Avenue with Abuladze street with diverse cafes and restaurants. Sighnaghi hotel will also open in 2021. Mtkvari HPP construction works will be also finished at the end of 2021”. Mtkvari HPP is one of the most important assets in the list of Co-Investment Fund. In 2014, the Co-Investment Fund fully purchased the project suspended for many years, and resumed construction works. The total installed generation of the mentioned project is 53 megawatts. The average annual generation is 251.5 million kw/h. Notably that the presumable annual generation in Georgia’s total consumption is 1.9%”, the Co-Investment Fund representatives noted.