03.Jan .2020 17:46

Georgian government to discuss future of Anaklia Deep Sea Port

Georgian government to discuss future of Anaklia Deep Sea Port
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The Georgian government will discuss the investment agreement signed with Anaklia Development Consortium to build the Anaklia Deep Sea Port as the consortium was unable to obtain the needed $400 million in loans from international financial institutions and $120 million from potential investors by the official expiration of the term limits at the end of 2019.

The Ministry of Infrastructure says that government will discuss ways to continue the construction of the port.

On December 31, 2019 Anaklia Development Consortium announced that they are doing their best to keep the project alive and push it further.

We have approached the government for support, but we have not seen an effective outcome,” said the Anaklia Development Consortium on December 31, 2019.

On December 6, 2019, General Director of the Anaklia Development Consortium Levan Akhvlediani said that negotiations with investors were ongoing but had come up against difficulties because of recent months’ developments around the project.

He also noted that the business environment in the country had influenced the negotiations as well.

On December 6, 2019, Minister of Infrastructure Maia Tskitishvili urged Akhvlediani to admit that the Anaklia Development Consortium cannot carry out the project.

Tskitishvili said that canceling the agreement with the Anaklia Development Consortium does not mean disrupting the project.