31 May 2024 (Lloyd's List) - A CHINESE consortium is set to win the bid to build Georgia’s Black Sea port of Anaklia, a project hoped to boost the central Asian country as a transport hub.
The consortium, led by China Communications Construction and China Harbor Investment, with subcontractors China Road and Bridge Corporation and Qingdao Port International, emerged as the sole bidder for the tender within the deadline, Georgian economy minister Levan Davitashvili said at a press conference.
Davitashvili said the details of the received proposal will be clarified in the next few days and the winner announced after.
The Georgian government’s decision to revive the port project coincided with China’s Belt and Road Initiative of trade infrastructure around the world — a scheme that has raised concerns among the US and its Western allies.
Geneva-based terminal operator Terminal Investment Ltd, the port arm of the world's largest liner operator Mediterranean Shipping Co, wad also said to be mulling a bid, but an official offer did not materialise before the submission deadline closed, according to Davitashvili.
Georgia borders Russia, aspires to join Nato and the European Union, and maintains a close co-operation with China. In 2023, its then prime minister Irakli Garibashvili visited Beijing, where he expressed support for the BRI and willingness for more co-operation with China, including on infrastructure.
In the joint venture to be established with the selected investor, the state-owned company Anaklia Ghratslovani Port will hold a 51% stake and the consortium 49%.
First phase
The first phase will see the port boast an annual capacity of 600,000 teu, Davitashvili said.
The Georgian government would fund the estimated $600m cost of the first phase of the port project, which would create thousands of jobs in port construction and operation.
Davitashvili said the project was key for the country’s economic development, especially in strengthening the role of the transport and logistics sector and Middle Corridor.
The Middle Corridor, also known as the Trans-Caspian International Transport Route, is a network of transport routes that replicates the ancient Silk Road, stretching from China to Europe via Kazakhstan, the Caspian Sea, and the Caucasus to Türkiye.
Since 2017 the multimodal transport corridor has relied largely on existing basic rail and port infrastructure. Last year, it handled just 2.3m tonnes of cargo, according to a report by the European Council on Foreign Relations think tank.
But with substantial infrastructure upgrades, this volume has the potential to reach 11m tonnes by 2030, according to forecasts by the World Bank.
In 2017, Georgia planned to build the Anaklia port project with the participation of the Anaklia Development Consortium, which included TBC Holding, SSA Marine, British Wondernet Express and G-Star Ltd.
However, the initiative was cancelled in 2020 after controversy stemming from money laundering accusations against the local supporters of the consortium.
