Ministry of Infrastructure: Anaklia deep water port is of utmost importance for the country and project will be implemented definitely
Ministry of Infrastructure: Anaklia deep water port is of utmost importance for the country and project will be implemented definitely

Anaklia deep water port is of utmost importance for the country, and the Government of Georgia has confirmed this by providing unprecedented levels of support at every stage of the project’s implementation, – the Ministry of Regional Development and Infrastructure of Georgia has released the statement.

“It is unfortunate that speculations concerning the topic of the Anaklia Port have not come to an end, even though the priority of the project has been confirmed by practically every member of government, from every possible platform.

For almost a year, politicians and the media have often disseminated incorrect facts and interpretations regarding the project with the exclusive aim of misinforming the public, which is hindering the development of the project in a healthy environment”, – notes the statement.

According to Ministry, the government is conscientiously fulfilling the obligations undertaken within the framework of the investment agreement and, at this stage, is actively conducting the construction works of the road and railroad leading to the Anaklia Port, as envisaged by the project. As the statement notes, at the same time, works are ongoing regarding the corresponding changes in the investment agreement.

“Ever since August 2017, the deadline for the securing of funding for the construction of the first phase of the port was delayed several times, at the consortium’s request. As a consequence of the latest changes implemented at the end of June 2019, this deadline has been shifted to the end of 2019.

The public is aware that in December 2018, precisely in order to save the project, the Government of Georgia became involved in the negotiations taking place between the Anaklia Development Consortium and international financial institutions. The topic of the negotiations was the issuance of a loan to the Anaklia Consortium, which was necessary for the financing of the construction of the port. After two rounds of negotiations, the sides agreed on practically all the requirements set out by the banks, except for the one regarding the insurance of the investors’ commercial risks by the government and the provision of complete collateral security for the loan.

Representatives of the Government of Georgia have said on numerous occasions that the state is not looking for an alternative company to develop the deep water port of Anaklia. This is evidenced precisely by its involvement in negotiations between the Anaklia Development Consortium and the banks, and the state plans to continue working with the consortium, in accordance with the agreement reached during the negotiations with the international financial institutions and the banks.

The construction of the Anaklia deep water port is of utmost importance for the country, and the Government of Georgia has confirmed this by providing unprecedented levels of support at every stage of the project’s implementation.

The implementation of the project is not – and cannot possibly be – connected with any specific private persons or legal entities and such incorrect interpretations or speculations, unfortunately, hinder the correct development of the project, as well as process of important negotiations between the investors and financial institutions”, – reads the statement released by Ministry of Regional Development and Infrastructure.

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