Bloomberg News

Anadolu Group to Boost Investment in Georgia, Minister Says

May 01, 2013

Anadolu Group of Turkey is considering investing in Georgian hydropower on top of the $600 million it’s already said it will spend, the republic’s energy minister said.

The government signed a memorandum of understanding on increased investment after the premier, Bidzina Ivanishvili, met company officials in Davos in January, Kakha Kaladze told reporters in Tbilisi today.

Tugban Izzet Aksoy, head of Anadolu Industry Holding’s energy group, said in April that the company was “seriously looking” into new investment opportunities in Georgian energy production. The company plans to build a 150-megawatt hydropower plant at a cost of about $300 million, he said.

Anadolu already planned to build new plants with a capacity of 400 megawatts to 500 megawatts, Kaladze said.

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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