Minister of Regional Development calls on founders of Anaklia Development Consortium to admit that they are not able to implement Anaklia project
Minister of Regional Development calls on founders of Anaklia Development Consortium to admit that they are not able to implement Anaklia project

Maia Tskitishvili, Georgian Minister of Regional Development and Infrastructure called on founders of Anaklia Development Consortium to admit that they are not able to implement Anaklia deepwater port project. Tskitishvili said that taking into consideration that the country needed a deepwater port, the project had to begin functioning as soon as possible.

According to Tskitishvili, it is regrettable that Anaklia Development Consortium has faced problems in the attraction of finances for the last 2 years.

In response to the question whether Anaklia Development Consortium would be able to present an investor before December 31, Tskitishvili said: “The issue does not have to do with the attraction of a new investor. This is about the total credit taken in the amount of USD 600 million to launch the project. Unfortunately, the Consortium has no resource to begin implementation of the project,” the Minister said and added that making a prompt decision was needed.

Georgian Minister of Regional Development and Infrastructure said that additional postponement of terms was impossible. Therefore, the government had the right to terminate relations with the current investor but this did not mean that the project would be terminated.

The Minister explained that the government would present a plan about the implementation of Anaklia deepwater port after expiration of contract terms with Anaklia Development Consortium on December 31, 2019.

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