Korean Hyundai Engineering & Construction – Hyundai E&C and Turkish Limak will conclude an agreement on establishing a joint venture which will build Nenskra HPP in Svaneti, informs Korean media.
To date, the documents are being prepared. Nenskra HPP with the capacity of 280 MW will be built on the tributary of the Inguri river. It will annually produce 1,2 billion kWh. The plant will start operating in 2019, and the project will be fully completed in 2021. Overall cost of the project will be 1 billion US dollars.
“We are currently finalising the preparation of an agreement. Once the process is completed, the document will be signed and Nenskra Hydro Company will provide the detailed and complete information”, said the representatives of Nenskra Hydro.
The main construction works will take place in 2020.
Hyundai E&C is Korea’s largest construction company which was founded in 1947. The Turkish company took part in construction of a new airport in Istanbul.
Initially, the Italian Salini Impregilo was involved in construction of Nenskra HPP, however the company decided to withdraw from the project, which resulted in project cease.
The construction of Nenskra HPP was announced in April 2012, the HPP had to be built by the Chinese Sinohydro. Later on, the Chinese company was substituted by South Korean KWater. Partnership Fund concluded an agreement with that company in December 2014.
The South Korean National Corporation of Water Resources has already formalised the agreement with Salini Impregilo on construction of Nenskra HPP.
Source: sputnik-georgia.ru
