Bucharest chosen as base for joint power company of four nations

A joint venture involving Azerbaijan, Hungary, Georgia, and Romania, focused on laying electric cables under the Black Sea, will be headquartered in Bucharest, Caliber.Az reports citing the Georgian Energy Ministry's announcement.

A meeting of energy ministers of the countries participating in the Green Energy Corridor project was held in Tbilisi. Representatives of Azerbaijan, Bulgaria, Hungary and Georgia discussed the project of laying a cable on the bottom of the Black Sea. Georgian Minister of Economy and Sustainable Development Levan Davitashvili also held a bilateral meeting with Azerbaijani Energy Minister Parviz Shahbazov. Among the topics explored was the establishment of a joint company for the project, with Bucharest, Romania, under consideration as its base.

A protocol outlining further steps for the submarine cable project was signed during the ministers' council. Davitashvili stated that the next meeting would take place in Bucharest, where a document on the establishment of a production facility dedicated to the cable project's implementation would be signed.