Foundation for Second Block of Combined Cycle Thermal Power Plant Laid in Gardabani

26 October, 2016
Today, JSC Georgian Oil and Gas Corporation (GOGC) laid foundation for the second block of Combined Cycle Thermal Power Plant in Gardabani.

Prime Minister of Georgia Giorgi Kvirikashvili, Minister of Energy Ilia Eloshvili, General Director of “Georgian Oil and Gas Corporation” David Tvalabeishvili, Management of “Gardabani Thermal Power plant 2” LLC, Government Officials and guest from China attended the event.

“We laid foundation for the development of the second Power Plant in Gardabani. Total cost of the project is USD 159 million and China Tianchen Engineering Corporation (TCC) is to build the power plant. Construction of the power plant will start in the first half of 2017. Currently we are working to obtain authorizations and negotiations with Chinese banks to conclude loan agreements. The Power plant will be commissioned in 2020”, said David Tvalabeishvili.

A symbolic capsule along with inscription plate was buried in Gardabani marking the beginning of the implementation of the construction project.

After the construction of the power plant, the country will have one more facility providing the country with 230-240 MW electricity.

On September 29, “Gardabani Thermal Power plant 2” LLC, a subsidiary of JSC “Georgian Oil and Gas Corporation” (GOGC) and “China Tianchen Engineering Corporation” (TCC) concluded an Agreement on Engineering Procurement and Construction of Gardabani 230 MW Combined Cycle Thermal Power Plant.

In addition, Gardabani 230 MW Combined Cycle Thermal Power Plant Implementation Contract was signed between the Government of Georgia, “Gardabani Thermal Power Plant 2” LLC, JSC “Georgian Oil and Gas Corporation”(GOGC) and JSC “Electricity System Commercial Operator” (ESCO)

“China Tianchen Engineering Corporation” (TCC) is one of the largest engineering-industrial corporations established in 1953 in the city of Tianchen, East China. At this stage the annual income of the company exceeds one billion USD, while the international engineering projects cover more than 30 countries.

JSC "Georgian Oil and Gas Corporation” (GOGC) is a major state-owned energy company whose main activities include possession of oil and gas transportation infrastructure. The company is one of the players at the Georgian natural gas market, is actively involved in power generation, oil and gas transportation and logistics and other significant energy projects. Assets of JSC "Georgian Oil and Gas Corporation" are managed by JSC "Partnership Fund". JSC "Georgian Oil and Gas Corporation" has been assigned international investment rating BB-.