Gov't annual report provides Anaklia Deep-Sea Port construction update
Gov't annual report provides Anaklia Deep-Sea Port construction update

The government provides an update on the progress made toward the Anaklia Deep-Sea Port construction in the annual report presented to parliament.

According to the document, in the second half of 2022, preparatory work commenced to initiate the selection process to choose a private partner for the project.

“The Anaklia Deep-Sea Port Development Agency hired international consultants, MTBS, for commercial matters and Squire Patton Boggs for legal issues to help prepare the selection process documentation.

In 2023, a selection commission was established under the leadership of the Georgian Minister of Economy, which approved the letter of intent. The said letter was published under the prescribed procedures on February 20, 2023. Candidates were given a three-month period to submit their application and qualification documents. This deadline was extended to June 19, 2023.

The project was presented to candidates with an updated structure, envisioning implementation through collaboration between public and private entities. It involves the creation of a joint company with 51% ownership held by the state and 49% by the private partner.

Furthermore, the state intends to commence significant marine construction activities such as dredging and breakwater construction.

A relevant state-owned company was established in April 2023, which has already begun preliminary preparations for these works. Simultaneously, efforts are underway to finalize other documentation related to the selection process, which includes the request for proposals document, drafts of the concession agreement, and partners’ agreement.

These documents will be shared with qualified candidates after the qualification assessment is accomplished. Additionally, consultation meetings with interested candidates are currently taking place,” states the report.