Chinese corporation ZPMC to invest $50m in Anaklia Deep Sea Port
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Chinese corporation ZPMC will be involved in the construction of Georgia’s largest port Anaklia Deep Sea Port, on the shores of the Black Sea city of Anaklia, near Georgia’s breakaway Abkhazia region.
ZPMC, a famous equipment manufacturing company in China, will become a long-term partner of the Anaklia Development Consortium – a company which is responsible for building the Anaklia Deep Sea Port. Representatives from both companies have already signed a deal about the partnership.
ZPMC will invest $50 million in construction of Anaklia Deep Sea Port and attract additional investments from Chinese financial institutions.
The Chinese corporation will also supply Anaklia Deep Sea Port with some of its products such as large-scale container machinery and a bulk cargo handling machine.
The construction of the port kicked off earlier this month, while the opening of the first phase of the port and the docking of ships in Anaklia is planned for 2021.
Anaklia Deep Sea Port development will be separated into nine phases and its investment cost is $2.5 billion.
- 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.
Georgia is one step closer to creating a new, faster maritime corridor between China and Europe, helping to restore the historic Silk Road by building the Anaklia Deep Sea Port. As the construction of Anaklia Deep Sea Port is now underway, Prime Minister Giorgi Kvirikashvili and other members of the Cabinet of Ministers joined the works today.
Georgia’s Minister of Foreign Affairs Mikheil Janelidze and founder of Anaklia Development Consortium Mamuka Khazaradze met the diplomatic corps accredited to Georgia and introduced them to the development of the Anaklia Deep Sea Port project today.
Those who want to catch up on the development process of the Anaklia Deep Sea Port project – Georgia’s largest port on the coasts of the Black Sea - are now able to get all information at a newly opened information centre.
Anaklia Deep Sea Port will be built by 2020
"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.
Free Trade Agreement between Georgia and China has come into play on January 1, 2018, making Georgia the first country in the region to have such a deal with China.
Georgia is invited as an "important guest” at an upcoming exhibition in Shanghai, China, announced Georgia’s Ministry of Economy Dimitry Kumsishvili today.
Tourism companies registered in Georgia will be able to bring tourists from China to Georgia and other countries easier, announced Georgia’s Economy Minister Dimitry Kumsishvili.
One of China’s largest companies, China Railway International Group, is interested in investing in Georgia’s Anaklia Deep Sea Port project, which is underway on the shores of the Black Sea city of Anaklia, near Georgia’s breakaway Abkhazia region.
Georgia and Israel are discussing the possibility of transferring several Israeli enterprises to Georgia’s Black Sea town of Anaklia.
A leading British company, BuroHappold Engineering, will be responsible for developing a visionary master planning and development plan study for Georgia’s Black Sea town of Anaklia, which soon will be transformed into a modern, bustling city.
Georgia’s Economy Minister Dimitry Kumsishvili has participated in a joint People's Bank of China - International Monetary Fund high-level conference on the Belt and Road Initiative (BRI).
China will help Georgia develop a Trans-Caspian international transport corridor, the so called ‘middle corridor’ within the "One Belt, One Road” initiative, announces Georgia’s Ministry of Economy.