Georgia invests $100m in deep sea port

As part of the agreement, the Government will invest $100m in the construction and development of railway and transportation links connecting the port to the region.

Mamuka Khazaradze, co-founder of the Anaklia Development Consortium, said the agreement signifies “a major commitment by the Government of Georgia”, which he added have always been “instrumental supporters” of the Anaklia Deep Sea Port.

“The Government’s $100m investment represents an incredible statement of confidence in a project that has the potential to transform Anaklia, and generate decades of new prosperity and opportunity for Georgia and its neighbours,” he said.

Mr Khazaradze added that ADC was confident about bringing the project to completion.

The Anaklia Deep Sea Port is expected to be operational by 2020.

In parallel with the port construction, ADC will build a facility for kindergarten classes, an ambulatory centre, a business centre, and mini football and volleyball fields, as well as repair a local municipal administrative building.