U.S. firm to invest in six Georgia hydro projects

U.S. developer Doheny Global Group said November 12 it plans to invest up to US$175 million to develop six hydroelectric projects in Georgia totaling 100 MW.

Speaking at a recent trade mission attended by U.S. government and business officials, Doheny Managing Director Irwin Katsof and Georgia Energy Minister Alexander Khetaguri announced the plan.

�Energy independence is an issue of critical importance to both Georgia and the United States,� Katsof said. �This agreement is truly a remarkable undertaking that melds the interests of the governments of the United States, Georgia, and private enterprise.�

Georgia has won pledges of US$4.55 billion in international aid over the next three years to rebuild its economy and resettle refugees in the wake of a five-day war with Russia in August. (HNN 10/30/08)

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