“THE PORT THAT NEVER WAS”

attempts to deliver deep-sea port capacity to Georgia intertwined with the idea of Anaklia functioning as a hub serving Asia-Europe trade. The closure was messy and the repercussions linger on today. There are two ongoing arbitration disputes from prior investors including the Anaklia Consortium which is looking for US$1.62 billion in compensation.

But while there have been many critics of the Anaklia project – bottom line, is it really needed? Nevertheless, it is seemingly the project that never goes away.

Georgia’s government has recently announced it is back on the agenda again.

Against a background of rising demand for freight transit across Georgian territory, triggered by Russia’s invasion of Ukraine, late last year Prime Minister Irakli Garibashvili said during a government session: “The Anaklia Port will be built with the co-participation of the state, where the state will own 51 per cent (of the equity) while we will announce an international call for the rest and select the partner companies.”

A different approach from previously with the state as the majority partner this time.

Despite, however, the fillip provided by Eurasian freight that previously crossed Russia to the south diverting to the so-called Middle Corridor, which crosses Kazakhstan, Azerbaijan and Georgia, the fundamental question remains does the Anaklia project possess the necessary attributes to attract investment and be seen as a viable project? It is true to say that there are many non-believers.

Details of this ‘new coming’ for the Anaklia project are sketchy. The project has previously been accused of suffering from too much political influence – is this new initiative born of the same ilk? If it does happen, will it attain “white elephant status?”

The Anaklia project appears to be a prime example of where more comprehensive studies and analysis, need to be undertaken to establish long-term viability – not just rushing to respond to today’s market needs. Plan, Prepare, Implement (if viable) is a message well worth taking onboard and which has proved its worth time and time again!

Meanwhile the bitterness over the last project continues with ADC suggesting that “The Port That Never Was” documentary film “unveils the deceit of the Government in killing this project.”