BAKU, Azerbaijan, Dec.15
By Tamilla Mammadova – Trend:
The Georgian government needs to update economic feasibility study for the Anaklia Port project before finding new investors, said the Minister of Economy and Sustainable Development Natia Turnava, Trend reports via Georgian media.
She made the remark while presenting a 2020 report of the Ministry of Economy.
"We continue to work on Anaklia project, for which we plan to update the feasibility study with our international financial institutions and partners, which is a prerequisite for finding investors," said Turnava.
According to the draft budget for 2021, the government plans to invest 10 million lari ($3.05 million) in the development of the highway and railway project connecting the Anaklia Port. As of the same project, 225 million lari ($68.6 million) is provided for roads and railways in 2022-2024.
In addition, it is known from the draft budget that due to the arbitration dispute with the "Anaklia Consortium", there is a risk that the new tender announced for the project might be unsuccessful.
"Given the current data, due to a possible arbitration dispute, it may not be possible to select an investor with a high reputation and experience," the draft budget states.
Anaklia Port Development Consortium was founded by TBC Holding and joined by American companies Conti International LLC and SSA Marine, British Wondernet Express, and Bulgarian G-Star Ltd. However, in August 2019, Conti International LLC announced its intention to leave the consortium, and ADC was left without the main investor.
The construction of the new port began in December 2017; in July 2018, the work commenced on deepening the bottom to 16 meters. However, at this stage, the work was suspended.
---
Follow the author on Twitter: @Mila61979356