Chinese corporation ZPMC to invest $50m in Anaklia Deep Sea Port
Chinese corporation ZPMC will be involved in the construction of Georgia’s largest port Anaklia Deep Sea Port, on the shores of the Black Sea city of Anaklia, Agenda reports.
ZPMC, a famous equipment manufacturing company in China, will become a long-term partner of the Anaklia Development Consortium – a company which is responsible for building the Anaklia Deep Sea Port. Representatives from both companies have already signed a deal about the partnership.
ZPMC will invest $50 million in construction of Anaklia Deep Sea Port and attract additional investments from Chinese financial institutions.
The Chinese corporation will also supply Anaklia Deep Sea Port with some of its products such as large-scale container machinery and a bulk cargo handling machine.
The construction of the port kicked off earlier this month, while the opening of the first phase of the port and the docking of ships in Anaklia is planned for 2021.
Anaklia Deep Sea Port development will be separated into nine phases and its investment cost is $2.5 billion.