Anaklia Consortium was given time to find investors

Anaklia Consortium was given time to find investors

access_time2019-10-16 16:04:28

Despite the contract with the Consortium gives us the right to terminate the agreement, we will not do it and will give it a chance to use all the available resources by the end of the year,” Minister of Infrastructure Maya Tskitishvili says.

According to the Minister, the government is not set to terminate the contract with the consortium and will give it the opportunity to find investors by the end of the year, as well as replacement for  a large shareholder-  Konti Group.

“The Consortium has not fulfilled its obligations, it has  failed to attract investors and find funds to fulfill its investment obligations. But given that the project is strategically important and to avoid our opponents’ accusations of hindering  it, we allow  the consortium to attract investors by the end of 2019 and  find funds to replenish its own capital, ”she notes .

The Minister adds that the government can only hail the presence of investors to finance the port construction.

 “The Consortium says they are in talks  with 5-6 investment funds regarding their involvement in the port construction. We welcome such negotiations, and that’s why give the consortium time until the end of 2019 to complete the negotiations, ”the Minister of Infrastructure points out.


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