On February 20, 2023, the Government of Georgia made a statement on the commencement of construction of Anaklia port and on the expression of interest in the matter. According to the commission resolution, it is expected that the Government selects the investor for the project within 12 months. The process will be conducted through the involvement of major international consulting companies.
Noteworthy, the Government is planning to launch the construction immediately, not waiting for the outcomes of the tender. The State shall ensure engineering and environmental studies are performed as well as commence the construction of critical port infrastructure, such as a breakwater.
The State intends to maintain 51% of the joint venture, while 49% will be owned by the investor. At the same time, for the purpose of protection of investor’s interests, decision-making on construction and operation shall be fully delegated to the private partner. The structure proposed by the State will also ensure the bankability of the project.
Importantly, the project is going to be the first instance of applying the model of institutional PPP in Georgia, which will be a new impulse for bringing PPP Law into practice.
MKD Law fully supports the construction of Anaklia deep sea port as a crucial project for Georgia and for the region, which will yet again mark Georgia on a global map. As a sign of the support and willingness to promote the project, MKD Law initiates an information and promotion campaign, engaging potential investors, governmental and analytical organizations as well as other major stakeholders. Detailed information on the campaign will be announced in short order.