Georgia’s New Deep Sea Port in Anaklia Will Help Create Faster Trade Routes From China to Europe

The Republic of Georgia announced that it has selected the Anaklia Development Consortium to build a new Deep Sea Port in Anaklia that will help create new, efficient trade routes from China to Europe.
Located on the eastern edge of the Black Sea, Anaklia strategically sits on the shortest route from China to Europe. The route has recently become a focal point for $40 billion in Chinese infrastructure investments under the Silk Road Development Fund. The recent opening of the $100 billion Asian Infrastructure Investment Bank (AIIB) will also support regional infrastructure development. Upon completion, the $2.5 billion project will establish a new maritime corridor between China and Europe, helping restore the historic Silk Road.
Belt and road countries account for 26% of Chinese foreign trade volume. In fact, East/West trade is expected to shape the future of global trade: by 2020, China-EU trade is forecasted to reach $800bn annually – a 45% increase from 2013 ($560 billion).
Construction on the Port is scheduled to launch by the end of 2016, subject to completion of environmental reviews. The Port will be operational three years after its groundbreaking and will be accessible to Panamax-size cargo ships.
The Anaklia Development Consortium is a joint venture between TBC Holding, which is based in Georgia, and Conti International, a major United States-based developer of infrastructure and capital projects.
Kurt Conti, CEO and President of Conti International, commented: “We are delighted and honored to be breaking ground on a project that will forge new paths from China to Europe and expand trade and investment opportunities for all of China.”
Mamuka Khazaradze, Founder and President of TBC Holding and Founder and Chairman of TBC Bank, added: “The Anaklia project represents a one-of-a-kind investment in the restoration of the Silk Road to China that will pay dividends for generations of people in Asia and Europe.”
Georgian trade with and foreign direct investment from China has grown substantially in recent years. In 2014, China was Georgia’s third-largest source of foreign direct investment. On December 10, 2015, China and Georgia started formal discussions on the free trade agreement between the two nations.
About the Anaklia Development Consortium (or “ADC”)
The ADC is a consortium of TBC Holding from Georgia and Conti International from the United States.
TBC Holding was founded by Mamuka Khazaradze who also is the Founder and Chairman of TBC Bank. Conti International is a major developer of infrastructure and capital projects. ADC is in discussions to add other members, including partners from China. ADC’s leaders are proactive, resourceful entrepreneurs with an exceptional 20-year relationship and a track record of ethical business conduct. ADC has established a framework of preliminary agreements with diverse global players in port and transport infrastructure for Anaklia Port’s long-term success.