The Macedonian Government is close to deciding that the state to independently construct the Chebren and Galishte hydroenergy project, with an estimated investment of up to EUR 1.5 billion, including interest.
“We are seriously considering and are about to make a strategic decision for the state to independently implement it, without a private partner. The final decision will also depend on the meetings held within the ESM,” said Prime Minister Hristijan Mickoski at a press briefing Tuesday.
The calculations, as the PM stated, show that the internal rate of return on the investment is over 10 percent, which makes the project significant from an economic perspective.
“But it is not only from an economic aspect, we appreciate that taking into account global warming, the region will lack two drinking water reservoirs that can be built. It is extremely strategically important for us that Tikvesh Field is irrigated by this project. That is approximately 60 thousand hectares of land,” Mickoski pointed out.
This area, the PM added, can also be used for the development of data centers.
“We are very close to making the decision as a state to develop it ourselves, and that means preparing a feasibility study that we have and choosing a company that will build it according to the Yellow FIDIC principle,” noted Prime Minister Mickoski.
