Funding for the Anaklia Deepwater Port is being reduced in the final draft of the 2026 budget because the construction cost of key infrastructure is now expected to be lower than originally estimated, Deputy Finance Minister Giorgi Kakauridze announced. Next year, the project will receive GEL 50 million instead of the initially planned GEL 150 million.
Kakauridze explained that in 2023 the state allocated GEL 70 million, in 2024 - GEL 150 million, and in 2025 - GEL 50 million, which together fully cover the required financing through 2026. The revision follows negotiations with the project’s contractor, Belgian company Jan De Nul, with whom Georgia signed a USD 203.9 million contract in August 2024. Updated engineering assessments indicate the actual cost will be lower, allowing the government to scale down the upcoming year’s allocation.
The state-led works currently underway include seabed deepening and breakwater construction. According to the updated project timeline, the first phase of breakwater construction will begin after receiving the construction permit, while small dredging vessels will commence soil improvement work in early 2026. A large dredger will arrive in July 2026, with major dredging expected to finish in early 2027. Although the contractual completion deadline for breakwater and dredging works is May 14, 2027, authorities expect completion by late 2026 or early 2027.
Changes have also been made to the port’s design. The breakwater length has been reduced from 1,500 to 1,370 meters, the turning basin radius adjusted from 300 to 271 meters, and the total area of water infrastructure reduced from 123.5 to 113.1 hectares.
Meanwhile, the government is still negotiating with China’s state-owned CCCC, selected as the winning bidder in May 2024 to become the project’s private investor. A final agreement has not yet been signed, with six key issues still under discussion. After the completion of Phase 1, the port is expected to handle 600,000 TEU (7.8 million tons) annually and feature a seabed depth of at least 16 meters.
