American Conti Group leaves Anaklia Development Consortium

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American Conti Group (Conti International LLC) has left the Anaklia Development Consortium. Anaklia development consortium was responsible for the development of New Deep Water Sea Port at Anaklia, Georgia. The reason Conti group exited the consortium is that no agreement has been reached between the government and the project investor banks, despite the support from the government for the consortium.

The Anaklia Development Consortium is stating that the decision of Conti group will not seriously damage the consortium. Consortium currently consists of TBC Holding from Georgia, SSA Marine from the United States, British Wondernet Express working in Central Asia, and G-Star Ltd. from Bulgaria. 

The Ministry urges the Consortium to introduce a plan of replacing the Conti Group with another Western company with similar capacities. According to the terms of the tender, the Georgian Government would rely on the bidding company to fulfill the project, if they meet two basic requirements: It would have had at least 5 years of experience in the construction and management of a similar port and the financial standing required to carry out such a project. 

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