Caucasus (bbabo.net), - Georgian government lost arbitration dispute to Russian state company Inter RAO.

The International Center for Settlement of Investment Disputes (ICSID), part of the World Bank group of organizations, has determined that Georgia must pay $75.9 million to the Russian investor.

As the Novosti-Georgia portal clarifies, the lawsuit against Georgia in 2017 was filed by the subsidiaries of Inter RAO Gardabani Holdings registered in the Netherlands (Hrami-1 and Khrami-2 HPPs) and Silk Road Holdings, which owns 75% of the company "Telasi", serving Tbilisi. The plaintiffs demanded compensation from the Georgian authorities for the damage caused by the devaluation of the lari and challenged the refusal of the authorities to raise tariffs.

Inter RAO demanded compensation in the amount of $200 million.

Earlier, the Arbitration Tribunal in Stockholm also ruled in favor of Inter RAO.

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