Anaklia Development Consortium (ADC) has won a deal from the Government of Georgia to exclusively build, develop and operate the $2.5bn Anaklia Deep Sea Port for a period of 52 years.
As part of the contract, the government will invest $100m in the construction and development of railway and transportation links connecting the port to the neighbouring region.
Spanning an area of 400ha, the port will pave way for a new maritime corridor from China to Europe.
Set to be operational by 2020, the port will employ thousands of workers during its nine phases of construction and development.
Upon completion, the port will have a 100 million tonne freight turnover.
Anaklia Development Consortium co-founder Mamuka Khazaradze said: “Today’s agreement signifies a major commitment by the Government of Georgia, who have been instrumental supporters of the Anaklia Deep Sea Port from day one.
“The government’s $100m investment represents an incredible statement of confidence in a project that has the potential to transform Anaklia and generate decades of new prosperity and opportunity for Georgia and its neighbours.
“And with experienced partners like Van Oord also on-board, we are confident of bringing the project to a very successful completion.”
The consortium also entered into an agreement with Dutch maritime engineering company Van Oord to conduct pre-construction works for the Anaklia Deep Sea Port.
ADC has also committed to building a facility for kindergarten classes, an ambulatory centre, a business centre, and other facilities in Anaklia, Georgia.
Besides developing the Anaklia Deep Sea Port, the company is currently involved in the development of the Anaklia Free Industrial Zone in the Black Sea region, to restore the ancient Asia-Europe trade route.