Georgian Oil and Gas Corporation (GOGC) and China Tianchen Engineering Corporation (TCC) start studying the possibility of financing energy projects
15 September, 2015
Georgian Oil and Gas Corporation (GOGC) and China Tianchen Engineering Corporation (TCC) signed a Memorandum of Understanding (MOU). The aim of the cooperation between Georgian and Chinese companies is to study the possibility of joint implementation of underground gas storage and combined cycle thermal power plant projects. The Partnership fund is supposed to be involved in the development of the projects too.
On the initiative of TCC, China Export & Credit Insurance Corporation (SINOSURE), as well as one of the major banks in China - Industrial and Commercial Bank of China (ICBC) were also involved in studying the funding possibilities for GOGC projects.
TCC is one of the major Chinese engineering and industrial corporations, which was founded in 1953 in Tianchen. Currently annual income of TCC is more than USD 1 bl and covers 30 countries in terms of the implementation of engineering projects. Furthermore, TCC has a successful experience in the construction of underground gas storage and combined cycle thermal power plants in many countries of the world, one of them is Turkey.
On the initiative of TCC, China Export & Credit Insurance Corporation (SINOSURE), as well as one of the major banks in China - Industrial and Commercial Bank of China (ICBC) were also involved in studying the funding possibilities for GOGC projects.
TCC is one of the major Chinese engineering and industrial corporations, which was founded in 1953 in Tianchen. Currently annual income of TCC is more than USD 1 bl and covers 30 countries in terms of the implementation of engineering projects. Furthermore, TCC has a successful experience in the construction of underground gas storage and combined cycle thermal power plants in many countries of the world, one of them is Turkey.