Gov’t prolongs obligations of Anaklia Development Consortium by 6 months
The first phase of development of Anaklia port is due to be completed by November 20, 2020. Photo: Anaklia Port.
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The government of Georgia will prolong the term for submitting financial closer documents for the Anaklia Development Consortium, which is overseeing the Anaklia deep sea port, by six months.
- Find out more about the Anaklia Deep Sea Port project in the article ‘Project of the Century: Georgia starts to build Anaklia Deep Sea Port’ by Mariam Papidze on Agenda.ge.
The decision to extend the deadline to accumulate the necessary funds was made at today’s government meeting. Georgian Infrastructure Minister Maya Tskitishvili said this is the sixth time the term has been prolonged.
The Anaklia Development Consortium asked the government of Georgia to prolong the term (expiring on June 15) by six months during their last meeting on May 21 and “we have accepted the date the consortium suggested”, stated Tskitishvili.
The decision to extend the deadline to accumulate the necessary funds was made at today’s government meeting. Photo: Gov't of Georgia.
During this six month period, the government and four donor banks (EBRD, OPIC, ADB and AIIB) should agree on the last point of a series of eight demands, which asks the state to be the guarantor for the insurance of freight turnover with the consortium.
Once an agreement has been reached, the consortium and donor banks will invest in the project.
Earlier this month, Tskitishvili said that this is very hard for the government of Georgia to take the responsibility for commercial risks.
She said that the private sector should take the risks while the government should support the project. The consortium claims that the Anaklia Deep Sea Port project is not a private project and that the state should also take responsibility.
Anaklia Development Consortium said that construction works are developing according to a plan. Photo: Anaklia Port.
The Anaklia Development Consortium has already issued an official statement welcoming the decision to prolong the term by six months.
The statement reads that the consortium has already mobilised the needed capital for the project, however the postponement of the deadline would be used to effectively finish the process of negotiations with international banks.
Anaklia Deep Sea Port project has once again become the topic of discussion, the main question now being whether the Georgian government is considering backing out of an agreement signed with the Anaklia Development Consortium in 2016.
The Anaklia Development Consortium has published a statement responding to yesterday’s speech of the Minister of Infrastructure and Regional Development Maya Tskitishvili in parliament, where she said that investors in the project have eight demands before moving forward.
Georgian Minister of Regional Development and Infrastructure Maya Tskitishvili says international financial institutions have eight demands that should be fulfilled in order to invest in the project. Tskitishvili said that the investors demand a feasibility study of each phase and say that the port development should not be linked to any specific date and should start only after the feasibility study is done.
A deep sea port in Georgia’s Black Sea port town of Poti will not be built as the construction permit for the port has been cancelled, says Georgian Economy Minister Natia Turnava.
One of the largest construction companies in Europe, French company Eiffage, will be the key contractor of the Anaklia Development Consortium to carry out the first phase of construction work of the Anaklia Deep Sea Port with Swiss ABB and Georgian CRP, IPN cites the Anaklia Development Consortium as saying.
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The Anaklia Development Consortium, overseeing the construction of Anaklia deep sea port, will have three new members in its supervisory board, which are expected to be approved at the consortium’s meeting of shareholders scheduled for later this month.
Conti Group, the US-based construction and development company and founder of the Anaklia Development Consortium together with TBC Holding, is leaving the consortium, announces Georgian media outlet accentnews.ge.
Completing the Anaklia Port project is of strategic importance, the Executive Director of the McCain Institute for International Leadership Kurt Volker said in an exclusive interview with Georgia Today published on September 2.
The candidate for economy minister Natia Turnava said Georgia has long had the need of a deep sea port and that the country’s government spares no efforts to implement the Anaklia project.
No project has received more state support than the Anaklia project, announced the candidate for Minister of Regional Development and Infrastructure Maia Tskitishvili yesterday in parliament.
The Anaklia deep sea port does not belong to a single person, but is rather an integral part of the development of the country, Georgian Prime Minister Giorgi Gakharia announced today.
The Anaklia Development Consortium, which has been overseeing the Anaklia deep sea port since 2016, announced yesterday that it “remains committed to finding a way forward for the future success of the project” and hopes that it may be possible to resolve its dispute with the Government of Georgia amicably.