Term given to Anaklia Development Consortium to attract $520mln for port construction expires
The latest schedule presented by the consortium says that the construction of the port will be completed in 2022 instead of 2020. Photo: port of Anaklia.
Tweet 
Share
The term given to Anaklia Development Consortium by the government, a state-tender winner to build a deep-sea port in Anaklia, western Georgia, to attract 520 million USD from a potential investor and four international banks, has expired today. The statement released by the consortium earlier today reads the "necessity and the lack of governmental support.
We have approached the government with the request to support, however, we have not seen effective outcome”, reads the statement.
The statement says that“we do our best to keep the project alive and progress it further”.
The consortium says that they are trying to "avoid possible legal dispute, which may negatively affect all parties."
We would like to take our chance and wish you a Merry Christmas and a Happy new Year. We wish Georgia successful and honourable future”, reads the statement.
Problems in the implementation of the project started in 2017.
The consortium was supposed to have attracted 600 million USD investments by the end of the year, however, as it failed to do so, the process was postponed until December 31, 2018.
In 2018 the deadline was once again postponed for six months.
The latest schedule presented by the consortium says that the construction of the port will be completed in 2022 instead of 2020.
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.
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.
Georgian Prime Minister Mamuka Bakhtadze says that statements [by the opposition and others] that the Georgian Dream government does not want the Anaklia deep sea port to be constructed are “cheap and irresponsible political speculations."
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.
The Georgian government will discuss the investment agreement signed with Anaklia Development Consortium to build the Anaklia Deep Sea Port as the consortium was unable to obtain the needed $400 million in loans from international financial institutions and $120 million from potential investors by the official expiration of the term limits at the end of 2019.
Anaklia Development Consortium is going to appeal to the International Court of Justice in response to the Georgian government’s cancellation of the investment agreement with the consortium to build the Anaklia Deep Sea Port.
The Georgian Government has plans to hire a consulting group which will ensure aid in selection of investors and other mandatory procedures for facilitating the construction of the deep sea port in Georgia’s Black Sea town of Anaklia, Georgian Economy Minister Levan Davitashvili said on Monday.