Georgia Begins Construction of Strategic Anaklia Deep-Sea Port, Details Kulevi Oil Refinery Project

| News, Economy, Georgia

On October 22, Irakli Kobakhidze, the Prime Minister of Georgia, announced the commencement of the construction of the Anaklia Deep-Sea Port, emphasizing its strategic importance for the country. In his speech at the event marking the start of the design and construction of the port's water infrastructure, Kobakhidze stated that over 500 individuals will be employed during the initial construction phase. The project is expected to handle 600,000 containers annually and require an investment of approximately 600 million USD.

The Prime Minister highlighted the involvement of Belgium-based Jan De Nul, a reputable company specializing in marine construction with experience with significant projects such as the Panama Canal expansion and the Suez Canal in Egypt. He expressed excitement about Jan De Nul's participation in the Anaklia project, noting that a proposal is being finalized with a Chinese-Singaporean consortium for the selection of a private partner, with a partnership agreement anticipated soon.

Kobakhidze set a target date of 2029 for the first ship to dock at Anaklia, though he expressed optimism that the timeline could be expedited due to the professional contractor already in place. The Prime Minister asserted that the port will enhance Georgia's infrastructure, boost economic development, and strengthen the country’s regional and international significance.

Additionally, during the same event, Kobakhidze presented the Kulevi Oil Refinery project, describing it as the largest private investment in Georgia's history. With an initial budget of 110 million USD and a total projected investment of 700 million USD, the refinery is expected to process 1.2 million tons of crude oil annually at the start, increasing to 4 million tons by the end of 2028. The project aims to promote import substitution, create high-paying local jobs, and enhance the country's energy security.

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