22 January 2020,   05:46
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Ministry of Regional Development and Infrastructure rules out restoration of terminated contract with Anaklia Consortium

The Ministry of Regional Development and Infrastructure of Georgia released a statement regarding the Anaklia Deep Water Port Project, ruling out restoration of the terminated contract with the Anaklia Development Consortium (ADC).

According to the Ministry, it is unfortunate that the use of the Anaklia port project for political purposes and deliberately misleading the public go on in Georgia.

“Information about the January 9, 2020 decision of the Government regarding termination of the contract was sent to the ADC on the same day and the contract was formally terminated.

The investment contract provide a 60-day pre- arbitration period, but it should be used by the party that intends to initiate the arbitration dispute and for negotiations on the pre- arbitration procedures in order to avoid arbitration.

Negotiations between the parties within the 60-day period do not imply the possibility of any negotiations on the restoration of the agreement and the possibility of the consortium to continue its work on the Anaklia Port Project. The contract is terminated in accordance with all norms, set by the law, and cannot be restored.

Thus, the contractual agreement between the Government and the ADC is terminated in compliance with all legal grounds and norms. Accordingly, any statement about continuation of any relations between the Government and the ADC under the same agreement is false and aims only at political speculations.

As for the prospect of the Anaklia Port Project, the Government reaffirms the importance of Deepwater Port construction and begins procedures for preparing new tender proposal on the project”, - reads the statement.

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