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Last updated: 10:55 - 1 May.'18
Eight Firms Bid for Energy Facilities
Civil Georgia, Tbilisi / 16 Jun.'06 / 22:06

The Georgian Economy Ministry said on June 16 that a total of eight, both local and foreign, companies have made their bids for purchasing electricity facilities which were put for privatization a month ago.

Deadline for making privatization bids expired on June 16.

Russian giant United Energy Systems (UES) has made its bid for two hydro power plants – Ats and Dzirula – and is ready to pay USD 4,5 and USD 20 million, respectively. There were total of six hydro power plants put for the privatization.

The Russia’s UES has also made its bid for Adjara Electricity Distribution Company and offers USD 6 million. There were a total of three electricity distribution companies on sale.

The Czech company Energy-Pro has expressed willingness to purchase all six hydro power plants for total price of about USD 150 million.

Other companies bidding for hydro power plants are Georgian TBC Group's TBC Energy; Luxtron Energy; Unitrade Service; Geo Steel,  Falcon Capital, and SB Energy.

A total initial bidding price for all these energy facilities was USD 199, but the Georgian Economy Ministry said that due to a huge amount of interest from potential investors a total price can now reach USD 282 million.

The Economy Ministry is currently considering all the bids and final decision is expected to be announced within five days.

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