Georgia Announce Builder for New Mega-Port

Global capital-intensive asset builder, The Conti Group is to build a new US$3.7 million deep sea port at the Georgian Black Sea Coast at Anaklia after winning a tender for the project, which will coincide with government plans to link the facility to China’s ‘One Belt, One Road’ initiative, according to the Journal of Commerce.

This follows news Georgia had awarded a US$2.5 billion contract to a joint venture company called ‘Anaklia Development Consortium’ (ADC) to construct a new Black Sea Port.

This project, together with a recent announcement that China Merchants will be investing in 10 overseas ports, both mirror plans for accelerating China’s Silk Road strategy.

Malaysia has also been linked with the global plan, after announcing a collaboration project with China.

The project involves collaborating on two key ports in both countries.

So far, China has invested around $50 billion in its One Belt, One Road initiative, which highlights its drive to boost its global presence.