Georgian PM says completing the first phase of Anaklia deep sea port by 2029 remains “absolutely realistic”

Georgian Prime Minister Irakli Kobakhidze on Monday said that completing the first phase of the Anaklia deep sea port by 2029 remains “absolutely realistic”.

In his remarks, Kobakhidze emphasised that negotiations with a Singaporean consortium regarding the project are still ongoing, and no new formal process is being launched at this stage.

“At this stage, there are no plans to launch any new process. Given that the implementation of the project is already continuing, we have the opportunity up to a certain stage not to artificially accelerate the processes, although at some point, naturally, an appropriate decision must be made. I think this should not go beyond the end of the year. A decision regarding the specific details of continuing cooperation should be made very soon, in the coming months. This is the current situation”, Kobakhidze said.

He noted that work on the project was continuing despite a brief pause caused by a review of the contract.

“There was a very short pause, which was caused by the revision of the contract, and I want to tell you that the contractual conditions, the financial side, were significantly reduced. The state will have to bear much lower costs for dredging works and the construction of the breakwater. This took a little time, although the work is continuing with appropriate intensity. Accordingly, completing the first phase of the project by 2029 is absolutely realistic”, he continued.

“We are simultaneously working on the road and the railway. This is also a realistic process. All projects will be implemented within the appropriate deadlines”, Kobakhidze concluded.