In the past year, the two leaders have held two meetings – one hosted by Kremlin leader Vladimir Putin the other by the European Union – and have made progress towards clinching an agreement a little more than a year after the “Second Karabakh War” in which Azerbaijan restored control over swathes of territory held by Armenians for three decades.

Fitch Ratings has affirmed the outlook on Georgia’s long-term foreign-currency Issuer Default Rating (IDR) at ‘BB’ with a Stable outlook.

The volume of attracted investments is estimated to be $1.2 billion and the efficiency of the plant is expected to be over 60 percent, which will save 1.1 billion cubic metres of natural gas annually.