Oil Gas Corporation lays foundation of power plant in Gardabani

The Partnership Fund of Georgia has begun construction of a combined recycling plant in Gardabani, according to the Oil and Gas Corporation of Georgia. The cost of the project is estimated to be around $204 million.

In order to pay for the plant's construction, the Oil and Gas Corporation is using funds obtained from the sale of Eurobonds. The Partnership Fund will pay the project's contractor Calik Enerji Company an advance payment of $50 million.

Completion of the plant's construction is scheduled for late 2014, and is expected to be fully operational by 2015.
(Trend)