BAKU, Azerbaijan, Feb. 6
By Tamilla Mammadova – Trend:
The Anaklia deep sea port project was transferred to the Ministry of Economy and Sustainable Development of Georgia, Trend reports citing Georgian media.
Previously, the project was coordinated by the Ministry of Infrastructure and Regional Development of the country.
Meanwhile, Georgian government has decided to terminate the investment agreement with the Anaklia Development Consortium (ADC).
As reported, more than two years ago, ADC committed to build a deep-sea port in western Georgia but failed to fulfil the obligations. The Georgian government plans to announce a new tender for the development of the Anaklia port project.
In December 2019, ADC for the seventh time was unable to fulfill its obligations and provide the government with documentation of loan agreements with banks
Anaklia Port Development Consortium was founded by TBC Holding and joined by American companies Conti International LLC and SSA Marine, British Wondernet Express and Bulgarian G-Star Ltd. However, in August 2019, Conti International LLC announced its intention to leave the consortium, and ADC was left without the main investor.
The construction of the new port began in December 2017; in July 2018, the work commenced on deepening the bottom to 16 meters. However, at this stage the work was suspended.
The total project cost is $2.5 billion.
---
Follow the author on Twitter: @Mila61979356
