Infrastructure Ministry calls on Anaklia Consortium to present a plan for replacement of Conti Group with a western investor

14:48, 17.08.2019

Winning of the tender by Anaklia Development Consortium was preconditioned by the participation of Conti Group in the consortium – Georgian Ministry of Development and Infrastructure said in a statement.

Based on the tender announced on August 5 of 2014, the Georgian government entrusted to carry out the project to a pretender company, which would meet two main conditions: if the company had the experience of at least 5 years for building and management of a similar port and if it had necessary financial resources.

Based on the statement, Conti Group has not been involved in the implementation of the project. Despite having 42% of shares, it has not since taken part in financing of the project or feeling up its capital and has not participated in ongoing negotiations for the attraction of additional funding that generated suspicion.

The American investment company Conti Group has the Anaklia Port Project on August 16. Levan Akhvlediani, CEO of the Anaklia Development Consortium confirmed the information to Georgian First Channel.

Conti Group was one of the shareholders of Anaklia Project.

Economics

Anaklia Development Consortium

Conti Group