Items filtered by date: Thursday, 08 October 2020 - NEWSDAY GEORGIA

TBILISI, GEORGIA, 8 October, 2020 – The Anaklia Development Consortium (ADC), the company originally
selected by the Government of Georgia to develop the strategic Anaklia Port Project, today issued the
following statement regarding the 2021 State Budget: 

“In the proposed 2021 State Budget, the Georgian Government admits that a new port tender is unlikely  to succeed. This is because no credible investor is likely to participate in circumstances where arbitration  claims are ongoing about the Government's treatment of ADC and international investor Mr. Bob Meijer.  Hidden on pages 517‐5181 of the proposed budget is the following passage regarding the intended new  tender for an Anaklia Port Project:  “შესაძლო  რისკები  ‐  არსებულ მოცემულობის ფარგლებში,  შესაძლო საარბიტრაჟო დავის გამო, შესაძლებელია ვერ შეირჩეს მაღალირეპუტაციისა და გამოცდილების ინვესტორი. ასევე სხვა გაუთვალისწინებელი გარემოებები”  (“Potential  risks – as  it  currently  stands,  due  to  the  potential  arbitration  dispute,  an  investor  of  high  reputation and experience may not be selected. Also, other unforeseen circumstances.”)  This  declaration  acknowledged  that  the  existing  arbitration  is  a  substantial  obstacle for  the  Georgian  Government’s plans and any hoped‐for deep‐water port project at Anaklia.  As the arbitration arises out  of  the government’s own misconduct, it has only itself  to blame for undermining  this vital project for  Georgia’s future growth and development.  1 The full set of documents submitted by the Government to the Parliament of Georgia together with the draft  Law on 2021 State Budget are available at:   http://parliament.ge/ge/ajax/downloadFile/142460/07‐2.525_ბიუჯეტი_2021_    Anaklia Development Consortium  6 Marjanishvili Street  Tbilisi 0102, Georgia  +995 32 2 95 99 10  This email address is being protected from spambots. You need JavaScript enabled to view it.   http:/anakliadevelopment.com  2 By  its  own admission  the Government  does  not  believe any  legitimate  bidders will emerge for a  port  project at Anaklia, condemning any hope that Georgia will see the jobs and economic growth that would  come with  such  a  strategic  project.  All  the  blame for  this  situation  rests  at  the feet  of  the  Georgian  Government.  Not only will Georgia not see a new port project at Anaklia any time into the future,  the likely outcome is  negative  decisions  by  respected  international  arbitration  tribunals  against  the  Government,  thereby  creating the obligation to pay substantial damages and also creating economic risk for the country given  the damage the government will have caused to Georgia’s standing with international investors.  The investors of the Anaklia Development Consortium remain ready to restart this project, inviting new  investors and partners so that Georgia can realize the riches this project offers.  All that is necessary is for  Georgian Dream and this Government to put aside personal interests and act in the best interest of the  people of Georgia.”  Further details of the Anaklia Port project and ADC can be found at http://anakliadevelopment.com 

Published in Economics

Business News

The capital budget proposed 1 800 000 will be saved

The capital budget proposed 1 800 000 will be saved

City government 2015 budget amendments. It was presented by Mayor David Narmania said the budget ame...

Railway station to be opened in Batumi

Railway station to be opened in Batumi

Construction of a railway station started many years ago but terminated shortly after will come to a...

Prime Minister meets with businesspersons in Kakheti

Prime Minister meets with businesspersons in Kakheti

Georgia’s Prime Minister Irakli Gharibashvili visited eastern Kakheti region within the framework of...

The Official Value of Dollar – 2.2533 GELS

The Official Value of Dollar – 2.2533 GELS

The official value of US Dollar reached 2.2533 GEL (Lari). National Bank of Georgia set the official...

MOST READ

« October 2020 »
Mon Tue Wed Thu Fri Sat Sun
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

About

The News Agency,
NEWSDAY.GE is
a part of STARVISION
Media Group.
It made its first
appearance on the Internet..More

 

Contact

NEWSDAY Ltd.
Lechkhumi street.43

Georgia,Tbilisi

Phone: (+995 32) 257 91 11
E-mail: avtandil@yahoo.com

 

 

 

Social Media