09.Jan .2020 13:39

The Minister: the State had already forgiven the Anaklia Development Consortium a $ 10 million fine, but they will have to pay a penalty

The Minister: the State had already forgiven the Anaklia Development Consortium a $ 10 million fine, but they will have to pay a penalty
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According to Maia Tskitishvili, Minister of Regional Development and Infrastructure of Georgia, the Anaklia Consortium will have to pay a penalty for failing to fulfil its contractual obligation. The Minister did not specify the amount of the fine, but said the State had already forgiven the Anaklia Development Consortium a fine of $ 10 million.

In addition, she said that the Anaklia Development Consortium will also have to return the land received from the state and the deep-sea port project.

“All these procedures are set out in the contract and we will strictly follow the requirements of the contract,” Tskitishvili said.

To note, the Government of Georgia has decided to cancel a contract with the Anaklia Development Consortium and to launch appropriate legal procedures. The Anaklia Development Consortium had to fulfil its duties by December 31.