Businessman Sulkhan Papashvili's company, LLC "Narovani HPP", is building a power plant in the village of Kobi in Kazbegi, as per the government decree dated May 14.
According to the document, the government transferred 17,898 square meters of land in the Kazbegi municipality to Narovani HPP LLC for a period of 49 years with the right to develop. The land is not for agricultural use. The annual fee for the use of the land is set at 10,023 GEL.
According to the terms of privatization, within 48 months from the date of signing the contract, the company must ensure the construction and commissioning of a power plant with a capacity of no more than 0.5 MW at the construction site.
Apart from that, the company's investment volume must be at least GEL 150,000.
Note: the owner of 100% of the shares of Narovani HPP LLC is businessman Sulkhan Papashvili.
