Expression of interest

JSC “Georgian Energy Development Fund” plans to find an investor for the implementation of a 1250-meter-long zipline project near the Enguri Dam in Tsalenjikha Municipality. which it will transfer a 95% share in the authorized capital of LLC “Enguri Tourist Center” Interested parties have the opportunity to submit relevant documentation no later than 18:00 on April 10, 2020.

About project

The Enguri Dam is a particularly important industrial -cultural heritage monument. In order to  popularize it, events have been planned to establish a tourist museum and visitor center near it. “Georgian Energy Development Fund” was entrusted with the procurement of design and construction works necessary for the establishment of tourist infrastructure.  By Decree #486 of March 5,2020. Enguri tourist center LLC was introduced to implement a zipline construction project.

The estimated cost of the project is 1 220 629.60 (one million two hundred twenty thousand six hundred sixty-nine GEL and sixty tetri) GEL.

Within the framework of the project, the necessary documentation has been prepared. The declared capital of the joint venture amounts to 1 220 629.60 (one million two hundred twenty thousand six hundred sixty-nine GEL and sixty tetri) GEL, of which 61 031.48 (sixty-one thousand thirty-one GEL and forty-eight tetri) GEL has been replenished by the Fund, which was spent on the preparation of the above-mentioned project documentation and covering the associated administrative costs. The investor has an obligation to ensure capital replenishment. This must be done in proportion to his share.

JSC “Georgian Energy Development Fund” establishes the terms of the partnership agreement(this includes jointly adopted decisions , distribution of shares, exit options from the fund , etc.) In order to ensure the fulfillment of obligations assumed under the partnership agreement, the winning investor is obliged to submit an unconditional and unrequested  bank guarantee in the amount of 120,000 (one hundred twenty thousand) GEL. The project documentation may be obtained by an interested party upon written request, after signing a non-disclosure agreement.

Criteria for determining the winner of the Expression of Interest:

The criterion for determining the winner in the expression of interest is the amount of the highest annual interest rate of the proposed put option. The interest rate of the proposed put option must not be less than 20%.

The terms of sale set out in Appendix #1. This  refers to the standard terms of the partnership agreement. Submission of documentation by the participant means acceptance of the terms set out in Appendix #1.

If an agreement cannot be reached with a prospective partner on any of the terms of the partnership agreement that are not provided in the standard terms, JSC "Georgian Energy Development Fund" is authorized to terminate negotiations with it and conclude an agreement with another prospective partner who participated in the expression of interest or to re-announce it.

If interested, the following documents must be submitted:

The annual percentage rate of interest of the selling officer.

For private law legal entities additionally:

Extract from the register. From the register of entrepreneurs and non-entrepreneurs legal entities.

Certificate of absence of public legal restrictions (National Public Registry Agency or similar institution);

Information about participants: address, e-mail, identification code, bank details, telephone or fax.

For legal entities under public law additionally:

Certificate of absence of public legal restrictions (National Public Registry Agency or similar institution);

Information of participants in the expression of interest: address, e-mail, identification code, bank details, telephone or fax;

For non-resident persons additionally:

A document corresponding to an extract from the register of entrepreneurs and non-entrepreneurial (non-commercial) legal entities issued by the relevant authorized bodies of the relevant country. A document submitted in a foreign language must be accompanied by a notarized translation into Georgian. Qualification documents must be issued no later than 30 days before the start of the proposal phase.

Information on participants in the expression of interest: address, e-mail, identification code, bank details, telephone or fax;

Additional for an individual:

. Copy of identity document;

. Certificate of absence of public legal restrictions (National Public Registry Agency or similar institution);

. Information of participants in the expression of interest: address, e-mail,

identification code, bank details, telephone or fax;

For representative office/branch additionally:

. Extract from the register of entrepreneurs and non-entrepreneurial (non-commercial) legal entities;

. Certificate of absence of public legal restrictions (National Public Registry Agency or similar institution);

. Information of participants in the expression of interest: address, e-mail, identification code, bank details, telephone or fax;

Note: Participants in the expression of interest should not have any public legal restrictions on their property.

The documents confirming the qualification data to be presented by the applicant from the above-mentioned administrative bodies must be issued after the start of the stage of receiving proposals in the expression of interest. The proposal must be in Georgian and English. Also , documentation in English must be accompanied with relevant certified Georgian translation. The commission reviewing the application has right to request any information from the participants. In such case , the requested information must be submitted in timely. Any discrepancy between the documents, may be reason to disqualification.

Schedule :

For additional information, please contact us at the following address: n.khaindrava@gedf.co.ge. Due to the current situation caused by the spread of the coronavirus, the JSC “Georgian Energy Development Fund” is working remotely.

the documentation must be submitted no later than 18:00 on April 10, 2020, in electronic form, to the following address: info@gedf.com.ge the commission reviewing the application has the right to require the presentation of original documents at any time.  The winner will be announced the deadline for submitting proposals. Within 10 working days.

Expression of Interest Announcement Date: March 10, 2020

Deadline for Proposals: April 10, 2020, 18:00;

Winner Announcement: No later than April 28, 2020;

Signing of Partnership Agreement: No later than May 5, 2020;

Zipline - Partnership Agreement Project