The Georgian government has canceled a contract with the Anaklia Consortium. Georgian Vice PM, Minister of Infrastructure and Regional Development Maia Tskitishvili, made a statement today.
''The Anaklia Development Consortium failed to fulfill the undertaking envisaged in the 7th section of the Investment Contract, as it failed to attract 120 million USD to fill its capital. It also failed to present contracts regarding the allocation of 400 million USD loan from international banks, with the first phase terminal operator and contractor of the first phase construction work,'' Tskitishvili said.
''Starting 2017, the Consortium had failed to fulfill the most important obligations for the project development, was unable to achieve any tangible results and failed to present a realistic viewpoint on the project development. The government of Georgia states that the next phase of postponing the deadline may negatively influence the Anaklia Port construction project implementation. Therefore, the Georgian government has decided to terminate the investment contract and launch procedures for the new tender,'' Tskitishvili stated.
According to her, the government has fulfilled all obligations envisaged in the investment contract.
The government of Georgia and Anaklia Development Consortium signed the investment contract on October 3, 2016.
Bela Gelashvili
News Author