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

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.

+{{cc.replyToName}} {{cc.body}}
No comments yet.
Logged in as {{user.alias}}. Log out
Login failed

Register user/reset password

Name needs to be fewer than 32 characters long
Comment needs to be fewer than 600 characters long

Estonia’s way into the future isn’t a race

There is a lack of connection between the Estonian state, and the people who live here. While it expects a lot of the state, Estonian society doesn’t seem ready to contribute, writes Viktor Trasberg.

Lotman: Security academy would be crucial Estonian identity point in Narva

In an opinion piece published by Eesti Päevaleht, Tallinn University professor Mihhail Lotman found it important to overcome the mental barrier separating Ida-Viru County from the rest of Estonia.