BAKU, Azerbaijan, March 7
By Tamilla Mammadova – Trend:
The construction of the deep sea port of Anaklia has been and remains a strategic project for Georgia and the European Bank for Reconstruction and Development (EBRD) is ready to help Georgia find a new investor, Minister of Regional Development and Infrastructure Maya Tskitishvili said, Trend reports citing Georgian media.
She made the remark during a speech in parliament as part of the "ministerial hour".
On Jan.9, Georgian government decided to terminate the investment agreement with the Anaklia Development Consortium (ADC).
"The specific plan is to announce a new competition for expressing interest. The Ministry of Economy is working on new conditions. The EBRD is also ready to join this process and with the help of specialists to help find an investor in the future," Tskitishvili said.
"As you know, the contractor company of the Georgian Department of Roads has completed design work. And, in accordance with the schedule of the new investor, it will be planned to equip the road and railway infrastructure that will connect Anaklia port with other international highways," Tskitishvili said.
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.
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