Anaklia Development Consortium supervisory board to welcome 3 new members
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Three new members are expected to be approved at the consortium’s meeting of shareholders scheduled for later this month. Photo: Nino Alavidze/Agenda.ge.
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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.
Three new members who are nominated to the board are Michael Cowgill, President of the American Chamber of Commerce in Georgia; Ted Jonas, Senior Counsel with the international law firm Dentons; and Jean-Patrick Voisin, President of Concorde Capital.
Michael Cowgill, Ted Jonas and Jean-Patrick Voisin. Photo: Anaklia Development Consortium.
The current Chairman and Vice-Chairman of the Anaklia Development Consortium’s supervisory board Mamuka Khazaradze and Badri Japaridze will resign from the board as they announced several days ago.
The reason is that Khazaradze and Japaridze intend to isolate the consortium from the legal proceedings initiated against them and any possible adverse consequences that could result from these legal proceedings.
This project is much bigger than Badri and me. It is vitally important that any issues about the two of us, regardless of how unjustified or unfair they are, do not negatively impact the Anaklia Port project. We will therefore not only remove ourselves from the board, but also put our shares, into a secure, international blind trust structure, for as long as needed to fight the wrongful allegations made against us and fully clear our names”, said Khazaradze.
Once the shareholders vote to approve the appointments, Cowgill is expected to assume the responsibilities of the Chairman of the Supervisory Board, while Jonas and Voisin will join as regular members.
Other existing members of the board, Bob Meijer and Dimitri Abdushelishvili will also retain their positions.
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.
The Georgian Minister for Regional Development and Infrastructure Maia Tskitishvili says that although the Anaklia port is a “fully private project” the state contribution is “still high”. Tskitishvili says that overall the state has invested $250 million in the project, due to the importance of the Anaklia port for the country’s infrastructure.
The government of Georgia will prolong the term for submitting financial closer documents for the 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.Anaklia Development Consortium, which is overseeing the Anaklia deep sea port, by six months.
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.
TBC Bank co-founder Mamuka Khazaradze says that the equivalent of more than $16 million has been frozen on his accounts and on those of co-founder Badri Japaridze per a request of the Prosecutor’s Office.