Iran and Georgia sign power agreement
Iranian company will build two plants in Georgia
The Iranian Energy Minister Majid Namjoo has made an agreement with his Georgian counterpart, that a contract will be signed by an Iranian company for the construction of two hydroelectric power plants in Georgia, local press has reported.
Namjoo has made the agreement with Alexander Khetaguri over the power plants, which have a total capacity of 36MW, according to the Tehran Times.
Sanir Company from Iran will carry out the construction of the plants, with the project expected to be completed within a timeframe of about 54 months. The project has an estimated cost of 60 million Euros and the Export Development Bank of Iran will finance the development.
The plants will be located in the west of Georgia and is one of the biggest industrial development plans between the two countries.