Turkish, British firms sign power plant accord

Quotes

   

ISTANBUL | Thu Dec 4, 2008 1:06pm GMT

ISTANBUL (Reuters) - Turkey's Anadolu Endustri Holding (AEH) and Britain's Energon International have signed a letter of intent on building a $140 million power station in Georgia, Anadolu's parent company said on Thursday.

The accord envisages building an 80 MW hydroelectric power station in the Samtskhe/Javakheti region of Georgia, Yazicilar Holding (YAZIC.IS) said in a statement to the Istanbul Stock Exchange.

It said the power station will have annual production capacity of about 420 kilowatt hours.

Under the agreement, AEH will have a 51 percent stake in the power station leaving Energon International with 49 percent.

Shares in Yazicilar were up 6.7 percent at 5.42 lira after the announcement.

(Editing by Jon Loades-Carter)
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.