Georgian PM: Anaklia port project will make “significant contribution” to economic growth

Georgian Prime Minister Irakli Kobakhidze on Monday said a successful implementation of the Anaklia port project in the country’s north-west would “significantly contribute” to domestic economic growth.

Speaking at the weekly Government meeting, Kobakhidze said a joint company would be established for the project, with a state company holding a 51 percent share in the initiative and a foreign consortium holding a 49 percent share.

The Chinese-Singaporean consortium has submitted the final proposal. Once the relevant procedures are completed, a partnership agreement and a concession agreement will be signed”, he said.

• Economy Minister says Chinese consortium to be announced as private partner for Anaklia port project

The PM also noted construction works for the marine infrastructure of the port would commence “very soon” as the tender process had been completed.

The first phase of the project will involve an investment of $600 million and will result in the port handling 600,000 containers and 7.8 million tonnes of cargo”, he said.

• Georgian PM stresses importance of Chinese involvement, freight for Anaklia port project’s “efficient operation”

Kobakhidze also highlighted the importance of the project for the development of the Middle Corridor, a logistics route connecting Central Asia and China to Europe via the South Caucasus.

The Government head said the project was also important for enhancing Georgia’s role as a connecting point between Europe and Asia.