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EBRD to allocate Georgia EUR 80 mln more2010-03-17 14:30
European Bank for Reconstruction and Development will allocate Georgia EUR 180 mln for implementation of two large-scale projects - Georgia Times correspondent.gt-en-newsitem-inside
The due agreements were signed today in the Georgian Ministry of Finance. EUR 100 mln are needed for building a railroad bypassing Tbilisi; EUR 80 mln will be spent on financing of 500kV power line to connect energy systems of Georgia and Turkey.
The overall cost of the railway project amounts EUR 290 mln; the construction of the 30 kilometer line with bridges and tunnels will be finished in 2013.
Power line project includes not only a new power line, but also a substation in Akhaltsikhe, near Turkish border. This will allow Georgia to export excessive energy to Turkey.