Georgian Deputy Minister of Energy, Marika Valishvili has announced that they will sign a 1 billion dollar investment agreement with a consortium of Turkish and South Korean for the construction of Hydroelectric Power Plants (HPP) of three 450 megawatts of capacity each in Georgia. Nurol, together with the South Korea Korea Electric Power Corp. (KEPCO) and the S & M Engineering Corporation, will build three hydroelectric power plants in Namakhvani on Rioni River in the Tsageri region. Valishvili, in a statement made for Reuters said that the agreement could be signed this month. The hydroelectric power plants to be built are expected to generate 1.65 gigawatts/hour electricity per year.