Estonia's Richest Man Announces $200M Investment in Georgia ({{commentsTotal}})

Oleg Ossinovski
Oleg Ossinovski Source: Photo: Postimees/Scanpix

Oleg Ossinovski, who was recently named by business daily Äripäev as the richest person in Estonia, has unveiled a 200 million dollar investment into hydro energy in Georgia.

He told Eesti Päevaleht today that Georgia is the best place to invest in hydro energy as there are 26,000 rivers flowing from the country's mountains

Ossinovski's company is constructing four hydro electric plants, which will generate 100 megawatts of power. The project is expected to cost around 200 million US dollars (150 million euros).

“The are no opportunities to invest such large sums in Estonia,” Ossinovski, whose net worth was valued at 300 million euros.