Authorities Vow to Assist AES Remain in Georgia

(Tbilisi, July 22, 2003, Civil Georgia) – The issue of possible deal between the Russian Unified Energy Systems and US company AES, which owns 75% of shares of the Tbilisi power distribution company Telasi, was discussed in the State Chancellery today.

Fuel and Energy Minister Davit Mirtskhulava said he cannot confirm report regarding the possible deal between the AES and the Russian power company.
 
“We should do our best to keep a strategic partner [AES],” Mirtskhulava added.
 
“The US company has the right to sell its own shares. But we should support the company to continue its business in Georgia,” Deputy State Minister Akaki Zoidze said on July 22.

Some opposition parties, including the Labor Party, claim that the AES intends to sell its shares to the Russian energy giant.

However, the US company denies rumors, saying the company will continue to work in Georgia.
 
The US company purchased Telasi shares in 1999. The 25% of shares are state-owned.