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Analysis – Anaklia Deep Sea Port Threatened By APM Terminals Poti Port Expansion

Analysis – Anaklia deep sea port threatened by APM Terminals Poti port expansion

Source: Anaklia Development Corporation
Anaklia, Georgia (PortSEurope) February 4, 2020 – In a press release today, APM Terminals Poti said that has presented its two-stage plan for the creation of a deep-water port to the Georgia government. The first phase of two will require an investment of over $250 million of private capital and when the whole project is completed (two years), annual capacity will double to over 1
million TEU. This new development will cast further doubt on the future of the Anaklia Development Corporation’s (ADC) deep sea port project on Georgia’s northern Black Sea coast. ADC consists of TBC Holding from Georgia, Conti International (U.S.), SSA Marine (U.S.), British Wondernet Express working in Central Asia, and G-Star Ltd. from Bulgaria (the company has Georgian owners and seems to operate as an offshore investment vehicle). ADC won the state tender to construct the Anaklia Deep Sea Port and signed a deal with the government in 2016. However, after problems raising finance, interest in the development of Poti port, and the role of the Georgian government, the Tbilisi government cancelled the contract last month. The government has said that the contract will be retendered and that the project will go ahead. A detailed article by PortSEurope can be accessed here, which considers the possible interests of China, Russia and the USA. Copyright (C) PortSEurope. All Rights Reserved. 2019.

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