Anaklia Development Consortium says it has found new potential investors
“Now is the time for all parties [the consortium and government] to join forces in order to carry out the project successfully”, said the Anaklia Development Consortium today. Photo: Anaklia Port.
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The Anaklia Development Consortium says it has found two new potential investors for the Anaklia Deep Sea Port in addition to the current investors of SSA Marine from the United States and TBC Holding from Georgia, announced the Anaklia Development Consortium today.
The Anaklia Development Consortium also noted it has presented the investors to the government for approval.
Now is the time for all parties [the consortium and government] to join forces in order to carry out the project successfully”, said the Anaklia Development Consortium today while speaking about its potential new partners.
The consortium says it welcomes all positive steps taken by the state which serve to move the project forward rapidly.
The Anaklia Deep Sea Port would be the first deep sea port in Georgia, which would be capable of connecting East and Central Asia with Europe via an efficient shipping and cargo route on the Black Sea.
- 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’.
Problems in the implementation of the project started in 2017. Photo: Anaklia Port.
However, Anaklia Consortium, which won the state tender to construct the port and signed a deal with the government in 2016 with TBC Holding as its principal partner, has faced problems in attracting the $2.5 billion in funds needed to construct the port.
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.
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.
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.
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.
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.
Georgian Minister of Infrastructure Maia Tskitishvili said earlier today that if the Anaklia Development Consortium fails to finalise agreements with potential investors and financial institutions to bring in $520 million in total in investments, the government may cancel its investment agreement with the consortium.
The Georgian Ministry of Infrastructure has announced the government will allow the Anaklia Development Consortium to try to come up with the needed capital for the project by the end of the year. The ministry announced it will not cancel the current investment agreement despite the expired deadline for the consortium to finalise agreements with potential investors and financial institutions to bring in $520 million in total in investments.
Georgian Minister of Economy Natia Nurnava has urged the Anaklia Development Consortium “to meet its obligations in time” after the government meeting today.
The Dutch company Van Oord, an international contractor specialising in dredging, marine engineering and offshore projects (oil, gas and wind), has become the owner of four per cent of shares of the Anaklia Development Consortium.