Hyundai May Build Nenskra Hydro
According to Korean Media, Hyundai Engineering & Construction Co., a major builder in South Korea is set to win a US$740 million order to build a hydropower plant in Georgia.
With its Turkish partner Limak, Hyundai E&C received a notification of intention from Georgia JSC Nenskra Hydro, a joint venture between South Korea's Korea Water Resources Corp. and the Georgian government, for the hydropower plant project.
Under an agreement with Limak, Hyundai E&C will receive $332 million for the project, which aims to build a 280-megawatt hydropower plant and dam on the Nenskra River in Svaneti, northwest Georgia.
This will be the first time that Hyundai E&C has carried out a construction project in Georgia.
After the completion of hydropower station, Korea Water Resources Corp. will run the facilities and sell electricity to Georgia for 36 years before it transfers the management rights to the Georgian government.
Related news
See all the news
All
-
22.11.2019 | 16:12
The NBG hiked further as the GEL stays undervalued
-
21.11.2019 | 16:02
World Bank expects slowdown of Georgia's economic growth in Q4 of 2019
-
21.11.2019 | 11:32
Georgia-Estonia Business Forum is Held Today
-
20.11.2019 | 17:40
Nestle Sees $250 Million Boost for Starbucks Products
-
15.11.2019 | 12:23
GDP will be Calculated by the Updated Methodology from Today – What the Reform Will Cause
-
11.11.2019 | 16:44
BM.GE: Giorgi Gakharia has selected a new business ombudsman
-
11.11.2019 | 16:11
Tourist Number Hits a Record within 10Months and Exceeds 8 MLN Despite Putin’s Flight Ban
-
08.11.2019 | 15:16
Mamuka Khazaradze: finally, I also found out what we were accused of
-
08.11.2019 | 14:45
Salmonella detected in frozen chicken meat imported from Ukraine
-
08.11.2019 | 12:27
Talakvadze about Tskaltubo Development Project: special rules won’t apply to Ivanishvili
-
07.11.2019 | 18:16
m2: we do not have any plans for Center Point at this stage
-
07.11.2019 | 17:58
Georgia Capital to open 6 new hotels in Georgia under the new brand Amber Group
-
07.11.2019 | 17:43
The CEO of m2 Group is changed - Shota Berekashvili replaces Irakli Burdiladze
-
07.11.2019 | 15:48
The 30 Top Emerging Travel Destinations for 2020
-
06.11.2019 | 15:38
"We hold rather comfortable shares on the market " – Does TBC Bank want to Buy Cartu?
-
28.10.2019 | 18:41Interview with Ahmed Bin Sulayem - Executive Chairman and CEO of DMCC
-
18.09.2019 | 14:19
Agreement signed between Silknet and Euronews to launch “Euronews Georgia”
-
26.06.2019 | 20:25
Parliament Lifts Immunity from UNM member Nika Melia
-
26.06.2019 | 15:47
Land Sale brought GEL 20.9 million to state budget
-
21.06.2019 | 20:54
Putin Instructed Lavrov to issue a warning for Russian travelers who plan a visit to Georgia