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Khudoni Investor: “We’ve Successfully Implemented Much Larger Projects”
Mohinder Verma and Bhupendra Kansagra, investors for “Trans Electrica Georgia” - the company responsible for the implementation the Khudoni HPP – held a press conference in the Tbilisi Marriott hotel and discussed the aforementioned hydro energy project.
Mohinder Verma, who is the founder and leader of Continental Construction Corporation, as well as a professional engineer, said that his company knew what it was taking on when they decided to helm the project.
“I own a company with a 60-year experience. In these 60 years we’ve build more than 30 constructions. When we decided to implement the Khudoni project, we knew what we were signing up for. I want to assure you that we’ll be able to implement this project while adhering to all standards,” stated Verma. Continental Construction Corporation is a company that works in hydro energy, irrigation and naval construction businesses, and has built large hydro power stations and water irrigation systems in numerous countries.
“And I’ll add right here that the Khudoni project is being carried out by rules set in place by the World Bank, which is why a number of international and well-known organizations have taken part in conducted assessments.”
Bhupendra Kansagra, who is a member on the Board of Directors for several international companies including AGM Chemicals, Royal Holdings Services (SpiceJet), “Bishopwood” real estate and a number of oil fields in Kenya, thanked the Georgian government for the support and partnership throughout the project processes.
“As soon as we gain a permit for construction, we’ll attract serious and famous investors, for which we have ample financial and technical resources. I’ll add that we’ve already implemented projects which were much larger than the Khudoni HPP, and quite successfully so."
During the rest of the meet, Mohinder Verma and Bhupendra Kansagra talked about their various experiences and interests in executing the Khudoni Project. Hydro Energy was deemed as the ideal renewable fuel due to it being a clean, efficient and ecologically safe energy source.
“The Khudoni 702 megawatt HPP construction in Georgia is the first project the company is carrying out in the Caucasus. To this day the Khudoni Project is the largest planned private capital expenditure in Georgia’s energy sector, with a combined investment amount of $1.2 Billion,” – stated Mohinder Verma.