Shevardnadze Says AES to Leave Georgia

(Tbilisi, July 28, 2003, Civil Georgia) – President Shevardnadze said in his Monday radio broadcast on July 28 that the US company AES, which owns 75% of shares in Tbilisi electricity distributing company Telasi, would leave Georgia.

“Unfortunately the company will leave Georgia. Due to the financial crisis, the company failed to fulfill a number of commitments, despite our numerous concessions,” the Georgian President said.

Shevardnadze expressed concern over the talks between the US company and the Russian power giant United Energy Systems (UES) regarding the s!
ale of shares, without participation of the Georgian side, which owns 25% of shares in Telasi.

“The shares of the US company will not be sold to the UES without the participation of the Georgian authorities. As far as I know, the process has already started, though the representatives of the company say nothing about it,” Shevardnadze stated.

He said that Anatoli Chubais, the head of UES, will probably arrive in Tbilisi in the nearest future.

Shevardnadze did not rule out possible purchase of the shares by Georgian companies. According to him, albeit there are not many purchasers, still some businessmen expressed willingness.