Conti Group, the US-based construction company and co-founder of the Anaklia Development Consortium (ADC) is leaving the consortium. CEO of ADC Levan Akhvlediani has confirmed this information and said that it won't have a significant impact on project implementation.
The reason is the developments around the Anaklia Deep Sea Port project, where no agreement has been reached between the government of Georgia and the project investor banks (EBRD, OPIC, ADB and AIIB) so far.
Once an agreement has been reached, the consortium and donor banks will invest in the project, but currently these talks have not yielded a final agreement.
Several days ago, Mamuka Khazaradze and Badri Japaridze announced that they intend to step down from the Anaklia Development Consortium’s Supervisory Board. Three new members have now been nominated to the board: R. Michael Cowgill, President of the American Chamber of Commerce in Georgia; Ted Jonas, Senior Counsel with the international law firm Dentons; and Jean-Patrick Voisin, President of Concorde Capital (full biographies of the three nominees are provided below). The nominations are expected to be approved at the consortium’s meeting of shareholders scheduled for later this month.
See all the news
Turkey to open doors to 31 countries for health tourism
Coronavirus: Boris Johnson moved to intensive care
First-Stage Land Usage Permit for APM Terminals Poti
How will Nenskra HPP Reduce the Electricity Import?
Carrefour: The product will be on the shelves with the prices same as before
Differences between tobacco and nicotine products
OECD cuts 2020 global growth forecast over virus
Georgia to export new armored vehicle Didgori Meomari
"Hotels are in shock, reservations are canceled" - Shalva Alaverdashvili
Georgian brand Entrée enters the UK market and opens its first facility in London
Frontera claims that Georgian government has started harassing the company since 2013
Company HotelFriend offers convenient eComerce platform to Georgian Touroperators
Will the head of "Anaklia Deepwater Port Development Agency" be replaced?
TOP-10 Exporter Companies from Georgia to Russia
TBC Bank Group announces certain changes to the composition of the Management Board
Silknet signed Memorandum of Understanding with Global Communications Company One Web
Prosecutor’s Office allows Avtandil Tsereteli to leave the country
Mamuka Khazaradze: We want to avoid arbitration, but the Consortium is ready for that
Reuters: Dutch city tells floating Georgian monastery to cast off
TBC Bank Group Shares up by 6.3% WoW on the LSE