The Anaklia Development Consortium today released the following statement. According to them, they are ready to attract additional investments in cooperation with the Government and continue the work.

“As Georgia turns its attention toward rebuilding the nation’s economic strength in the wake of the Covid-19 health crisis, two vital ingredients of a strong economy -- foreign investment and major infrastructure projects – naturally come to mind.

The development of a deep water seaport at Anaklia, together with the Special Economic Zone that would be a catalyst for thousands of jobs and the creation of a new, vibrant city, offers the perfect solution to lead Georgia’s economic rebirth.

Fortunately, through the work it has already carried out, the Anaklia Development Consortium (ADC) is the right partner with the government to achieve this shared vision, ready to restart work promptly.

While the project is currently stalled by a dispute with the Government, ADC has temporarily paused with filing an arbitration claim against the Government as Georgia responds to the Covid-19 public health crisis. At the same time, ADC has voiced its willingness to avoid the arbitration so that the dispute does not further delay this strategic infrastructure project, and work cooperatively with the Government to attract additional investors and continue with the work that has already commenced.

The benefits of continuing development of the Anaklia Deep Water Seaport are considerable:

Foreign investment: Foreign investors are already on-board with the project, with more being solicited.

Jobs: Direct and indirect employment of up to 16,000.

Revenue for the Government: Over the duration of the concession, the royalties to be paid by ADC to the Government are estimated to be USD 500 million. In addition, ownership of the Port of Anaklia will transfer to the Government at the conclusion of the concession period, meaning even further direct revenue for the Government.

Significant progress has already been accomplished…

Anaklia City, the Special Economic Zone that would accompany the development of the seaport, would be a thoroughly innovative city of outstanding urban design, featuring modern sea, rail and air links, and considerable diverse employment opportunities in logistics light manufacturing, development, healthcare and other sectors, with an emphasis on sustainability.

This is part of the long-term vision for Anaklia to be a new regional business centre with large-scale logistics and industrial parks, a new City with a business and financial centre, education and healthcare facilities, plus sport and recreational infrastructure, all of which will create thousands of new jobs in Georgia.

Anaklia is the only suitable location if Georgia is to realize its full potential as a transport hub and a transit corridor. The long-term commitments for the Anaklia Deep Seaport project and constant upgrade of the port’s capacities is a sound signal to Georgia’s neighbours and partners, that the country is a reliable and committed partner for the development of international transportation corridors”, - reads the statement.