China And Singapore To Build $2.5B Anaklia Deep Sea Port

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Swiss-Luxembourg Competitor

According to international news, this consortium, comprising the Chinese state-owned construction giant China Communications Construction Co Ltd and Singapore’s China Harbour Investment, was the sole bidder to submit a proposal before the deadline, edging out a Swiss-Luxembourg competitor.

Qualification Requirements & Project Details

“As it is known, the qualification requirements for the selection of the private partner for the Anaklia deep sea harbour project were met by two applicants – the Swiss-Luxembourg company, Terminal Investment Limited Holding SA and the Chinese-Singaporean consortium, China Communications Construction Company Limited & China Harbor Investment Pte. Ltd, which had to submit technical, commercial and financial proposals, as well as comments on the contracts until May 20”, Levan Davitashvili, the First Vice Prime Minister and the Economy Minister of Georgia, explained.

The Georgian government will hold a 51% ownership stake in the port, while the consortium will control the remaining shares. Construction is slated to begin in June. The project, valued at $2.5 billion, is designed to reach an annual capacity of 14 million tonnes of freight by 2030, facilitating trade primarily with Central Asia and China.

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Source: Safety4Sea