The potential investor needs to see direct support and approval from the Government for the project as well as for them. So far, the Government has not provided such direct support and approval, – reads the statement released by Anaklia Development Consortium.
“Despite the current situation that is outside the control of Anaklia Development Consortium, we have identified an investor who is still interested in the project. We informed the Government’s representatives during our meeting last week at the Ministry of Regional Development and Infrastructure of Georgia.
As we have made clear to the Government’s representatives, the potential investor needs to see direct support and approval from the Government for the project as well as for them. So far, the Government has not provided such direct support and approval. We are therefore waiting on the Government, given this situation is outside of our control, while we actively provide what information we can to the potential investor.
ADC is using every means it has within its control to push the project forward, while we wait for the Government’s support which is necessary to finalize negotiations with the investor and ensure the future of the project. We wish to avoid a legal dispute and are hopeful that the Government will provide the required support in order that we may successfully continue and finalize the project”, – the statement reads.
As a reminder, the interim deadline for Anaklia Development Consortium to submit bank loan agreements expires today. December 31 is the deadline for the consortium to raise its own capital and sign relevant contracts for completion of port construction project.