The Anaklia Development Consortium (ADC) has expressed disappointment following the recent arbitration decision by the International Court of Arbitration of the International Chamber of Commerce (ICC).

In a statement, the consortium highlighted that the government’s actions have led to significant delays in the Anaklia port project, resulting in the loss of tens of thousands of jobs and millions in potential tax revenues.

ADC asserts that the Georgian government’s interpretation of the arbitration decision is flawed.

“One arbitrator dissented in favour of the consortium, contradicting the notion of a unanimous ruling in favour of the government.

The government’s claim that the consortium sought $1.5 billion was inaccurate. The actual demand was significantly lower. The government rejected all claims made by the consortium. There was no damage award for the government, and the request for reimbursement of legal costs was denied,” the ADC’s statement reads.

The consortium emphasized that the arbitration outcome did not alter the government’s failure to support the Anaklia project, which remains unfulfilled despite numerous promises. They also noted that the issue of the government’s international legal obligations remains unresolved and will be addressed in a separate arbitration proceeding.