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.

Agenda.ge, 31 Dec 2019 - 20:12, Tbilisi,Georgia

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.

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