"Geocase" Advisor Nikoloz Alavidze believes that there is complete ambiguity regarding the Anaklia Port project. According to him, the process should be conducted more transparently to attract investors.
Speaking to TV-program Analytics, Nikoloz Alavidze noted that it is important for the parties to agree on everything in advance.
"We must try our best to make the Anaklia Port project more transparent, to interest other investors as well. We do not know what is happening in the agreement, what are the medium and long-term plans, how the rest of the infrastructure will be developed. Let's say a port is created, how will the cargo get to the port? We know how congested and inefficient our railway is. Who should finance this infrastructure? There is always a chance [for Western investments], it just should not be closed. We have no idea what is happening, whether there were negotiations or what this agreement entails. We also don't know what kind of team is working, what kind of competence, the contractor was hired through a tender. The same mistake that the Anaklia consortium made, that they started to deepen, they started with good intentions, but it was hasty, because after some time the project failed to develop, their investment was washed away. Therefore, if this is not followed comprehensively and all parties are not well-informed in advance, nothing will come of it," - said Nikoloz Alavidze.
In May, 2024, the Georgian Ministry of Economy announced the selection of a Sino-Singaporean holding to build the deep sea port project that has been mired in controversy since 2020 when the government quit the contract with a Western consortium. The state will keep the controlling share of 51%, while the holding will hold the rest 49%.
The chosen consortium includes China Communications Construction Company Limited (CCCC) and China Harbor Investment Pte. Ltd, a subsidiary of CCCC registered in Singapore. Subcontractors include China Road and Bridge Corporation and Qingdao Port International Co.
According to the report, since June 2021, CCCC has been under restrictions from the US Treasury’s Office of Foreign Assets Control (OFAC) for its ties to the Chinese military-industrial complex. TI Georgia says that while these restrictions do not entirely ban the company from financial transactions, they do require US government approval for certain dealings with CCCC. This means Georgia’s partnership with CCCC does not violate sanctions but does restrict the Chinese company from purchasing American-made components without permission.
