"This is the project of the century” was how Georgia’s Prime Minister welcomed the start of the Anaklia Deep Sea Port project to create a new, faster maritime corridor between China and Europe and help restore the historic Silk Road.
After two years of discussions, the company responsible for developing the mixed-cargo deep sea port, Anaklia Development Consortium, signed an investment agreement with the Government of Georgia today.
According to the deal, the Anaklia Development Consortium will invest $2.5 billion USD and develop the Port on a build, operate and transfer basis, allowing larger ships to enter Georgian waters for the first time, thus expanding the country’s export potential and ability to act as a transport corridor.
The Port will have significant advantages – its strategic location, high cargo capacity, opportunities to develop the logistic services, perspectives to develop and expand – all useful for Georgia to complete its historic mission in new Silk Road corridor,” said Kvirikashvili.
The Anaklia Deep Sea Port development will be separated into nine phases. Photo by the PM's press office.
He said the Anaklia Deep Sea Port project was "one of the most important infrastructural projects” within the country’s new spatial arrangement plan and the Government’s four-point reform agenda to improve Georgia’s economy and investment environment.
Today’s deal stated the Anaklia Development Consortium will build a huge port spread over 400ha in Anaklia, a Black Sea city near Georgia’s breakaway Abkhazia region. PM Kvirikashvili said the Port will be the largest not only in Georgia but across the Black Sea north-eastern coastline.
When complete the multi-functional Port will have the ability to receive large vessels with a 10,000 container capacity. Once fully operational the Port will be able to receive Panamax and post-Panamax ships – the largest ships able to pass through a canal with a cargo capacity of up to 40,000 tonnes.
After two years of discussions, Anaklia Development Consortium signed an investment agreement with the Government of Georgia today. Photo by the Ministry of Economy's press office.
Several days ago the Government of Georgia said work on the Anaklia Deep Sea Port project will begin before the end of 2016 and would be completed by in 2020.
Transforming the current port in Anaklia into a deep sea port was a mammoth task and the development will be separated into nine phases. Just over $580 million will be invested in the first phase of the project.
Today’s agreement stated the investors – Anaklia Development Consortium – must create a training centre for locals who will later be employed at the Port, and build new infrastructure supporting the local community including a kindergarten, playground and a business centre.