Georgian Prime Minister Irakli Kobakhidze announced that the government has revised contracts related to the Anaklia Deep-Water Port, resulting in a 25% reduction in costs, saving $52.5 million. The changes concern dredging the port basin and constructing the breakwater. Kobakhidze stated that construction activities in Anaklia will resume soon with significantly lower expenditures.
“The contracts for dredging and the breakwater, initially valued at $203.9 million, have been renegotiated, along with the contract with the supervising company. This has reduced costs by more than 25%, saving $52.5 million. Construction in Anaklia will restart shortly, with much lower expenses,” Kobakhidze said, thanking the Ministry of Economy and its team for the savings.
The Belgian company Jan De Nul has been contracted for the dredging and breakwater work since August 2024. Following the cost reduction, the 2026 budget allocates 50 million GEL for the port, down from the initially planned 100 million GEL. Previous allocations included 70 million GEL in 2024 and 150 million GEL in 2025, fully funding the project through the end of 2026.
The first phase of the Anaklia port is expected to handle approximately 600,000 TEU (7.8 million tons) per year, with a port depth of at least 16 meters.
A private investor for the port has not yet been selected. In May 2024, the Chinese state consortium CCCC was identified as the preferred bidder, but a final investment agreement has not been signed. The government has stated it will only finalize an agreement that does not guarantee loans or cargo. The first phase of the project is valued at up to $600 million, and the port is expected to receive its first ship in 2029.
