Anaklia Development Consortium to appeal to International Court of Justice
Anaklia Development Consortium is going to appeal to the International Court of Justice in response to the Georgian government’s cancellation of the investment agreement with the consortium to build the Anaklia Deep Sea Port, Agenda.ge reports.
TBC Bank co-founder Mamuka Khazaradze said that the consortium will ‘reveal all officials and politicians who fought on purpose against the Anaklia project.’
Khazaradze said that the disruption of the project is caused by the ruling Georgian Dream party chairman and leader Bidzina Ivanishvili, Prime Minister Giorgi Gakharia and Minister of Infrastructure Maia Tskitishvili. "It is a lie that the consortium has not fulfilled its obligations. The Consortium has an investor and all responsibilities which should be fulfilled by the agreement, are fulfilled, I announce this with complete responsibility. The government lied to society with these ‘postponements’ and continued to act destructively against the project,” said Khazaradze.
Khazaradze accused the Georgian government of acting against the interests of the Georgian state by cancelling the investment agreement with Anaklia Development Consortium to build the Anaklia Deep Sea Port.
Today the Georgian government began procedures to cancel the investment agreement signed with the Anaklia Development Consortium on October 3, 2016 to build the Anaklia Deep Sea Port.
The consortium has been unable to obtain the needed $400 million in loans from international financial institutions and $120 million from potential investors by the official expiration of the term limits at the end of 2019.
Minister of Infrastructure Tskitishvili said earlier today that the government is starting a search for a new partner to build the Anaklia Deep Sea Port.
The deadline for obtaining the funding has been postponed six times.
The Georgian government did not cancel the investment agreement with Anaklia Development Consortium on October 15 despite the expired deadline for the consortium to fulfil its interim obligations.
The Anaklia Development Consortium won a state tender to construct the port and signed a deal with the government in 2016 with TBC Holding as its principal partner, but has faced problems in attracting the $2.5 billion in funds needed to construct the port.
Construction of Anaklia Deep Sea Port started in 2017.
![](https://ccbs.news/templates/Default/img/doubledown.png)
![](https://ccbs.news/templates/Default/img/doubledown.png)
Iranian envoy: Next 3+3 meeting to be held in Turkey soon
19 July 2024 / 14:01
Armenian authorities probing military aircraft crash
19 July 2024 / 13:57
Georgian President asks Constitutional Court to repeal foreign agents law
15 July 2024 / 14:53
Armenia kicks off joint military exercise with U.S.
15 July 2024 / 14:48
Armenian Foreign Minister left for New York
15 July 2024 / 14:44
Macron reaffirms support for Armenia-Azerbaijan dialogue at meeting with Erdogan
12 July 2024 / 13:33
Masoud Pezeshkian to be inaugurated as Iran's president in three weeks
11 July 2024 / 11:04
Mirzoyan, Blinken discuss bilateral issues in Washington
10 July 2024 / 14:30
U.S. continues to work for diplomatic resolution between Armenia, Azerbaijan
10 July 2024 / 14:19
Armenian FM to travel to Washington
09 July 2024 / 13:33
Reformist Pezeshkian wins Iran's presidential race
08 July 2024 / 13:14
Armenian parliament speaker hails 'productive' talks with U.S. officials
05 July 2024 / 14:32
Astana hosting SCO+ summit with participation of Aliyev and Erdogan
04 July 2024 / 14:40
Armenia-Azerbaijan talks a priority for U.S. – State Dept
04 July 2024 / 13:37
Why does U.S. Congress delegation arrive in Armenia?
03 July 2024 / 13:44