Shanghai Zhenhua Heavy Industries Co. (ZPMC), a Chinese manufacturer of cargo handling equipment, has committed to an investment of US$50 million towards the development of Anaklia Deep Sea Port in Georgia.
As part of the Anaklia Development Consortium (ADC), ZPMC has agreed to provide the latest, modern standard container cranes and other equipment needed to control the container terminal.
Anaklia Deep Sea Port's consortium project has attracted attention from investors as it provides the shortest route from China to Europe.
ZPMC is also planning to take part in the construction tenders announced by ADC.
The ADC is developing the Anaklia Deep Sea Port and the Anaklia Free Industrial Zone in the Black Sea Region to breathe new life into the ancient Asia-Europe trade route.
Both developments are granted through an investment agreement provided by the Ministry of Economy and Sustainable Development of Georgia.