Levan Davitashvili, GD First Vice Prime Minister declares, that the government holds negotiations with a new company that is discussing the development of the Anaklia Deep Sea Port project jointly with Chinese CCCC.
In response to BMG's question about when the investment agreement will be signed, Davitashvili responds that he had expected the negotiations to proceed more quickly, but given the current situation, he expects the agreement to be signed in spring 2025, or by early summer at the latest.
According to the Minister of Economy, he cannot name the company that plans to join the project alongside CCCC.
"I think we will be able to sign the contract in spring... no later than summer. Negotiations are ongoing intensively, however, since these negotiations are confidential, I do not have the right to share details," - stated Levan Davitashvili.
In 2020, the Government of Georgia terminated the contract with a consortium of Western companies that was supposed to build the Anaklia port. On May 29 this year, it became known that the Ministry of Economy and Sustainable Development selected a Chinese-Singaporean holding, which is known for corruption-related scandals and is under restrictions imposed by the U.S. Government, as the investor in the Anaklia port.
The Minister of Economy, Levan Davitashvili, has stated that the investment volume of the first phase of the project is USD 600 million. Fifty-one percent of the Anaklia port will remain under the ownership of the Government of Georgia, while a 49% stake will be owned by the Chinese-Singaporean holding.
CCCC is one of the largest state-owned Chinese companies that is focused on the construction and operation of large infrastructure projects, including ports, airports, etc. CCCC and several of its subsidiaries were included in the U.S. OFAC List due to construction of artificial islands for the Chinese Army in the South China Sea. According to the U.S. assessment, the construction of the islands violated the norms of international law.
