Georgian investments may earn Turkish contractors up to $1.5 bln
Posted by meb at February 25th, 2009
Turkish contractors could share in $1-1.5 billion from projects in Georgia after the country secured $4.5 billion in investment credit from international institutions, Trade Minister Kursad Tuzment said on Wednesday.
Georgia would soon start to implement important infrastructure projects regarding $4.5 billion investment credit procured from international institutions, the Anatolian Agency reported Tuzmen as saying.
Georgia plans to make investments in motorway, energy, housing, public buildings as well as infrastructure investments with the credit.
Turkish State Minister Kursad Tuzmen, currently in Georgia with a delegation of businessmen met with Georgian President Mikeil Saakhasvili.
The minister also said the tax audit and transit passage fees that Turkish companies operating in the country complain affect business, would soon be solved after the Georgian President sent instructions on solving the issue.
Georgian Prime Minister Nikoloz Gilauri, who addressed a Turkish-Georgian Business Forum on Tuesday, also invited Turkish businessmen to invest in energy projects in the country.
Turkey’s Anadolu Group, the first company to invest in the energy sector in Georgia, signed a contract with the country’s Energon company for the construction of a hydroelectric power plant worth of $140 million.
The power plant, to be constructed on Pravani river, is planned to take effect in 3-1/2 years. Some 40 percent of the electricity produced at the plant is expected to be sold to Turkey under the agreement, the agency reported. The foundations of the dam are expected to be laid in May.
source: Hurriyet daily news
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