Ministry of Economy: We will definitely continue to communicate with the investor company in order to find the right decision
"We will definitely continue to communicate with the investor company in order to find the right decision, in the interest of the state," the Ministry of Economy of Georgia said in connection with the decision of ENKA to terminate a contract with the Georgian government.
According to the Ministry, the Ministry of Economy and Sustainable Development has indeed received a preliminary notification from the Enka company about the possible withdrawal from the project in a month. The
The Ministry hopes that the process will end in favor of Georgia.
"The government is doing its best to eliminate questions about the project. Moreover, we addressed one of the most authoritative mediators in the world - the EU Energy Union Dispute Resolution Board and invited all non-governmental organizations and public groups interested in the Namakhvani project to participate in the process. We hope that the process will be resolved in favor of the Georgian state.
We are well aware that this project is complex and thus, investors face many difficulties in implementing such a project. However, it is also clear that the project is not simple, it has environmental, social and technical challenges and thus it is the responsibility of both the government and the investor to re-examine certain aspects of the project if necessary.
Once again, the Cascade HPP project is important to us, as well as the interest of any investor in general, so over the next month we will continue to communicate with the investor company to find the right solution in the interests of the state, which that will not harm our investment environment and will eliminate all questions related to the project.
The Georgian government is doing its best possible to continue attracting investments, specifically in the field of energy, in order to ensure the country's energy independence and, most importantly, energy security”, reads the statement of the Ministry.
