Ministry of Infrastructure - It is unlikely that Anaklia Consortium obtains funding for constriction of the port and to start construction in January

16:17, 31.07.2019

The Ministry of Regional Development and Infrastructure says that the statement released by the Anaklia Consortium, as if the breach of deadlines for obtaining funding will not affect the terms of construction and the reception of the first vessel, does not correspond to the truth.

“The last schedule presented by the Consortium, saying that the construction of the port will be completed in June of 2022 instead of announced 2020, confirms it.

Unfortunately, despite unprecedented support from the government, the investor has so far failed to obtain approval from the international financial institutions to lend $ 400 million to the Anaklia Development Consortium as loan and to fill own capital of $ 120 million.

The fact remains true that the deadline for obtaining the funding has been postponed several times and the Consortium has to have met this obligation by the end of 2019.

Taking the current situation into account, it is unlikely that the consortium manages to obtain the funding for constriction of the port and to start the construction in January 2020,” the statement reads.

Economics

Anaklia Consortium

Ministry of Regional Development and Infrastructure