Anaklia Port Deal Signed, Construction Begins This Year

  • Business & Finance

The Anaklia Development Consortium LLC and the Government of Georgia signed an investment agreement for the Anaklia Deep Sea Port Project last week.

A statement released by the Prime Minister’s press office revealed that this capital port development scheme will start before the end of 2016.

According to the Georgian Prime Minister, Giorgi Kvirikashvili, this project will include many phases, but the important thing is that in three years the Port will start functioning and will employ thousands of people.

The $2.5 billion program will establish a new maritime corridor between China and Europe, helping restore the historic Silk Road and stimulating national and regional economic growth.

Around $580 million will be invested during the first phase of the project, Kvirikashvili added.

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.

Van Oord is responsible for the marine works of the project.

Other key partners include Moffatt & Nichol and Maritime & Transport Business Solutions from the Netherlands.

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