Chinese power company front-runner in Anaklia Port project

The Anaklia Black Sea Port is attracting the interest of one of the largest Chinese state companies, Power China.

Georgia’s Prime Minister Irakli Garibashvili has hosted high officials from Power China at the Georgian Government Administration office.

The sides discussed developing bilateral economic relations, with the Chinese side highlighting Georgia’s growing export potential and the free and transparent business environment.

Power China was among the seven companies shortlisted to compete for a tender to design and build the new Anaklia deep-water port in western Georgia.

The seven companies submitted their proposals in April 2015, and in June the Government Commission selected two candidates - Power China and local company JSC Aanklia Development Consortium – as the "preferred applicants”.

Now, the two companies are negotiating with the Commission and must submit their final proposal outlining the port’s development. In the near future, the winning company will be revealed and contractually tasked to build and operate the Anaklia deep-water port.

The decision to develop Anaklia Port was made last year. In August 2014, the Government invited local and international investors to show their interest in becoming involved in the development of the port.

At the time, the Government asked potential investors to submit expressions of interest to develop the mixed-cargo port on a build, operate and transfer basis. The newly-developed port will be located on the Black Sea coast of Georgia, near Anaklia resort in western Georgia, and will be spread over 1,000 hectares and have access to a deep sea canyon.

In addition, the Port must have the ability to receive large vessels of at least 6,500 TEU (twenty-foot equivalent unit) capacity.

As well as developing Anaklia Port, upgrading and developing logistics and industry zones and constructing an airport and liquid gas terminal were also planned for the region.

Authorities are expected to announce a free economic zone on the Anaklia Port territory however further details are yet to be finalised prior to execution of the investment agreement.

A feasibility study revealed Anaklia, a Black Sea city near Georgia’s Abkhazia region, was the best place for constructing a deep sea port.

Power China is a state company that as of June 2015, owned property worth $70.4 billion USD and employed 200,000 people. Since it launched the company implemented 1,565 large projects in 110 countries around the world. (Agenda.ge)