Minister: Anaklia Consortium Has Until Year-End to Attract Finances

“Despite the fact that the contract gives us the full right to cancel it today, we will not exercise this right and will allow the consortium to use its resources to the full by the end of 2019,” Maia Tskitishvili, the Minister of Regional Development and Infrastructure of Georgia, told Imedi TV yesterday.

When asked about the future of Anaklia Deep Sea Port, the Minister responded that the government does not intend to cancel the contract with the Consortium and is extending the deadline to allow it to fulfill its obligations by the end of the year.

“Considering that the Anaklia Development Consortium has failed to fulfill its obligation to obtain finances and submit prior agreement with banks and given that this project is important to us, we will not allow any opponent, including the Consortium or the political opposition, to accuse the government of conducting activities that would hinder the Anaklia Development Consortium from implementing this project. We will not cancel and we will give the Consortium the chance to fully use its resources by the end of 2019 and raise funds both from local sources and international banks," she said, adding that she welcomes the existence of the investors announced earlier by the representatives of Anaklia Development Consortium.   

October 15 was supposed to be the last day for Anaklia Development Consortium to submit signed deals with investors willing to invest in the project.

By Ana Dumbadze 

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16 October 2019 11:38