"Construction of Mtkvari HPP, Luxury Collection and PULLMAN hotels will be completed in 2021" – the Georgian Co-Investment Fund

access_time2021-02-09 13:59:49

In 2021, the Georgian Co-investment Fund is set to complete several important projects, including the Mtkvari HPP with annual output that accounts for 1.9% of Georgia's total electricity consumption; a $ 101 million the Luxury Collection. by Marriott. project and Pullman Hotel in Axis Towers.

As Commersant was told at the Fund, the Fund combines 9 projects in different sectors. Three agriculture projects such as  "Georgian Greenhouse Corporation", "GeoAgro" and "Georgian Agro House". Two  real estate projects "Axis Towers" and "Galleria Tbilisi", the  industrial project "Heidelberg Cement", three energy projects "Mtkvari HHP", Oni 1 and "Lentekhi HPP".

The hotel in Sighnaghi is planned to be completed in 2021, and major works on the Mtkvari HPP are planned to be completed by the end of 2021.

The Mtkvari HPP project is one of the Fund’s most important projects. In 2014, the Co-investment Fund purchased the project, which had been stalled for many years, and resumed construction. The total installed capacity of the project is 53 MW, the average annual electricity production is 251.5 million kWh. The estimated annual output of the project is 1.9% of Georgia's total electricity consumption (13.4TWh in 2019). In early February 2020, the excavation of the longest and largest diameter tunnel constructed by Double Shield TBM in Georgia within the framework of Mtkvari HPP was completed, the length of the tunnel is 9.6 km and the diameter of the excavation is 6 meters.


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