Government of Georgia to Cancel Anaklia Deal

Image source: anakliadevelopment.com

The Government of Georgia will begin procedures for cancelling the investment contract signed between the Anaklia Development Consortium and the government.

According to a statement released by Ministry of Regional Development and Infrastructure, the Georgian government decided to launches procedures for cancelling the investment contract signed between the Consortium and the Georgian government on October 3, 2016 for the construction, operation and transfer of a deep-sea port in Anaklia.

“Considering that the Government of Georgia has fully fulfilled all of its obligations under the Investment Agreement, and the Anaklia Development Consortium, despite the full support of the Government, has failed to meet the taken commitments under investment agreement since 2017, failed to achieve a tangible result and did not deliver realistic vision of project development. Therefore, the Government of Georgia considered that a further extension of the term for the implementation of obligations would not lead to the desired outcome,” the statement reads.

According to the Ministry, since the delay in contractual relations with the Consortium could harm the port construction project, the Government will launch procedures for cancelling the contract with the Consortium, as well as for further development of the Anaklia port project.

Minister of Infrastructure Maya Tskitishvili said that the government is starting a search for a new partner to build the Anaklia Deep Sea Port.

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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