The Anaklia Development Consortium LLC has been awarded the contract to build and develop a Deep Sea Port in Anaklia, according to the Georgia’s Ministry of Economy and Sustainable Development.
The $2.5 billion project will establish a new maritime corridor between China and Europe, helping restore the historic Silk Road and stimulating national and regional economic growth.
Construction on the project is scheduled to launch by the end of 2016, subject to completion of environmental reviews.
The port will be operational three years after its groundbreaking. The project is expected to create as many as 3,400 jobs during the construction stage and 6,400 jobs to operate the port upon completion.
The port will have the capacity to process 100 million tons of cargo and generate 0.5% of GDP annually by 2025.
The Anaklia Development Consortium is a joint venture between TBC Holding LLC, which is based in Georgia, and Conti International LLC, a United States-based developer of infrastructure and capital projects. Other key partners include Moffatt & Nichol and Maritime & Transport Business Solutions from the Netherlands.
The Government of Georgia, which initiated the project, has committed to invest $100 million in ensuring its success.