Georgia Takes Helm of Long-Awaited Anaklia Deep Sea Port

Georgia's economy minister announced the country will develop the Anaklia Deep Sea Port project, marking a move away from a China-Singapore consortium. Started a decade ago, the port aims to connect Asia and Europe and handle up to 7.8 million metric tons of cargo annually.

Georgia is set to assume control over the development of its first deep-water port, Anaklia, on the Black Sea, according to a statement by the country's economy minister on Monday. This announcement follows the withdrawal of a China-Singapore consortium from the prolonged project.

Initially conceptualized over ten years ago as a crucial infrastructure link between Asia and Europe, the Anaklia Deep Sea Port has experienced several setbacks, including the cancellation of a contract with a Western consortium by the Georgian government in 2020. The port, envisioned to process around 7.8 million metric tons of cargo per year, represents the nation's most ambitious infrastructure endeavor.

Following the cancellation, Tbilisi selected a state-owned Chinese consortium, yet progress has stalled. The Georgian government now plans to adopt a landlord model, allowing various countries and enterprises to engage as partners, in hopes of optimizing port operations and enhancing cargo attraction.