Due to the new model for the development of the Anaklia Deep-Sea Port, the state will need to mobilize an additional approximately $200 million beyond the originally planned amount, stated Minister of Economy and Sustainable Development Mariam Kvrivishvili at a briefing held today.

As the Minister explained, the mobilization of $200 million is required to implement a new component, which involves the construction of core and fundamental port infrastructure, including berths and other essential accompanying infrastructure.

“We were in very active negotiations with the Chinese-Singaporean consortium. As you know, strategic cooperation with China has contributed to the further strengthening and deepening of trade and economic relations between the two countries. We see the results of this every quarter. We remain in a very friendly and partnership-based mode with the Chinese side.

We are confident that, given the importance of this project, we will see the involvement of the Chinese side in the updated model of the Anaklia Deep-Sea Port project. This is a model that will be welcomed by all our international potential partners, as it is an internationally proven and successful model.

Prior to the updated model, we had developed a formula whereby the state would participate in the development of the Anaklia Deep-Sea Port project in Georgia. The total investment volume of the project remains unchanged - $1.1 billion. What is changing is the proportion.

Under the previous project and concept, the state was responsible for the ongoing infrastructure: the breakwater and dredging works, which are currently underway as a state obligation. The state was also to build the railway and connecting road, which remain state obligations under the new model as well.

However, under the new model, we have added one additional component, which involves the arrangement of fundamental additional infrastructure, berths, communications, and other accompanying infrastructure.

Regarding additional investments, the component of investments to be made by our international partners remains. Each of our partners who becomes an operator in the Anaklia Deep-Sea Port will have to make investments to fully equip the berths.

As a result of the new model, the state will need to mobilize an additional approximately $200 million beyond the planned amount.

We have achieved significant savings within the framework of the ongoing construction works - an optimization of $50-52 million. Therefore, instead of $250 million, the state will mobilize an additional $200 million to finance the additional infrastructure under the revised model. The financing model will be standard in both cases - it will involve budgetary funds as well as cooperation with international financial institutions.

Negotiations with international financial institutions have already begun, and there is very high interest in participating in the Anaklia Deep-Sea Port project, both from international financial institutions and from potential international operators.

As for who will represent the Chinese side in the new model, we will see that more clearly during the ongoing working process. I would like to emphasize our strong desire and motivation to see active involvement from the Chinese side, alongside other partner countries, in the operation and further development of the Anaklia Deep-Sea Port.

Once again, I would like to clarify that the state will invest in the Anaklia Deep-Sea Port in three directions: 1. Ongoing construction works, which include dredging and breakwater construction. 2. Construction of the railway and connecting road, which was relevant in the previous model and remains relevant in the new model. 3. A new component that involves the arrangement of core and fundamental port infrastructure, including berths and other important accompanying infrastructure.

This is the new component for which the state will mobilize an additional $200 million and invest in the Anaklia Deep-Sea Port,” said Mariam Kvrivishvili.