About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Czech and Georgian Companies Take over Energy Facilities
Civil Georgia, Tbilisi / 20 Jun.'06 / 14:44

The Czech Energo-Pro has bought two electricity distribution companies and all six hydro power plants, while the Georgian company TBC-Energy has took over one electricity distribution company in a major privatization deal totalling USD 317 450 000, Georgian Prime Minister Zurab Nogaideli said on June 20.

The Czech company Energo-Pro has bought United Energy Distribution Company (UDC) and Energy Distribution Company of Adjara, as well as six hydro power plants: Lajanuri, Rioni, Gumati, Shaori, Dzevrula and Ats for a total of USD 312 million 350 thousand, according to the Economy Ministry.

TBC-Energy, which is part of the Georgian TBC Group, has paid USD 5,1 million for the Electricity Distribution Company in Kakheti, eastern region of Georgia.

There were total of three electricity distribution companies and six hydro power plants put for sale. Initial total price for all these facilities was USD 119 million.

Eight companies were competing for these energy facilities, including the Russian giant United Energy Systems (UES), which made its bid for two hydro power plants – Ats and Dzirula – and was ready to pay USD 4,5 and USD 20 million, respectively. UES was also bidding for Adjara Electricity Distribution Company, offering USD 6 million.

The Russia’s UES failure to win comes as a surprise, as President Saakashvili said in an interview with Imedi television aired on June 18 that the UES has took over some of the Georgia’s energy facilities, while others were bought by a western and Georgian companies. Saakashvili’s statement came two days before the official results were announced.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2019, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
32