Greenoak Renews Construction of Power Plant in Adjara

Mogens Hansen, director of the Batumi Oil Terminal, which is owned by the Greenoak Group, said at a news briefing on April 18 that the company has resumed construction of the Kobuleti power plant, which was launched in 2002 and stopped in 2003 due to the political instability in the Adjara Autonomous Republic.

The new plant will be ready to supply 72-megawatts of electricity in November 2005. However, during the first stage the plant will only work at half capacity.   

Mogens Hansen said the Batumi Oil Terminal has already invested over USD 25 million in the project. ?The total investment will amount to USD 50 million,? he added.

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