Indian Company Waiting for Permission from Economy Ministry to Start 400 Million Project
The Indian company “Tata” is waiting for permission from Economy Ministry to start a 400 million project.
The Indian company “Tata Group'' will begin to work on the HPP cascade project upon receipt of the permit. Deputy Minister of Energy explains to radio “Commersant” that the company has already applied for permission to the Ministry of Economy. According to Ilya Eloshvili, ''Tata Group” will invest 400 million USD in the project.
"Tata Group" will develop the HPP cascade project in Adjara which cost makes 700 million USD along with the Norwegian company “Clean Energy Invest''. Eloshvili says that the equity agreement has been signed, according to which, “Tata Group'' owns a 40% share in the Norwegian company.