US Regrets AES Pull Out from Georgia

(Tbilisi, August 1, 2003, Civil Georgia) – The US embassy in Georgia issued press release on July 31 expressing regret concerning the AES Corporation?s decision to sell its assets in Georgia, saying the decision ?reflects the difficult investment climate in Georgia.?

?The US is sorry that AES Corporation of Arlington, Virginia has decided to sell its assets in Georgia. But we understand the commercial reasons for the decision. AES?s action reflects the difficult investment climate in Georgia. AES?s management and its Georgian employees can be proud o!
f their achievements, which the US has steadfastly and consistently supported,? the press release reads.

?We shish to emphasize the importance of the orderly transition during the transfer of these assets. The US remains committed to supporting reforming in Georgia?s energy sector.?

US power company AES confirmed on July 31 it plans to sell its assets in Georgia to the Russian power giant Unified Energy Systems of Russia (UES).

The US company?s Georgian assets include three power plants and an electric distribution company, AES Telasi.

Related Story:
AES Posed to Pull Out, Russian Company Takes Over

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