Anaklia Consortium signs MoU with Asian Development Bank to develop Port and Economic Zone in Georgia

Anaklia Consortium signs MoU with Asian Development Bank to develop Port and Economic Zone in Georgia

On the 14th of September 2018, the Asian Development Bank (ADB) and Anaklia Development Consortium (ADC) signed a memorandum of understanding (MoU) to explore the development of the Anaklia Deep Sea Port and Special Economic Zone (SEZ) in Georgia.

Early 2017, MTBS delivered the Master Plan to the Government of Georgia, marking an important milestone of the Project. The Master Plan for Anaklia Port outlines the expected traffic and port development phases during the 52-year concession for the development of the port and also provides an estimation of the economic impact of the Project.

Strategically located between Europe and Asia, the Anaklia project is expected to be the driver for an integrated regional development program worth about USD 3.0 B that will connect Central Asia to international markets. The deep-water port will be one of the largest and most sophisticated in the Black Sea region with a capacity of handling up to 10,000 TEU vessels. Through a linking network of road and rail, the port will also act as a gateway for landlocked neighbours in central Asia, including Armenia and Azerbaijan. The port’s surrounding hinterland will be developed into a city-sized special economic zone that will be promoted as a prime business, logistics, and investment destination.

“The Anaklia Port and SEZ will transform regional connectivity and trade, and it will help establish Georgia as an international logistics and business hub,” said ADB’s Central and West Asia Department Director General Mr. Werner Liepach. The MoU will enable ADB and the Anaklia Port and SEZ’s developing consortium, Anaklia Development Consortium (ADC) and the Anaklia City JSC, to explore opportunities for partnership in the areas of infrastructure, human resource development, financing, and trade facilitation.

Source: ADB

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