Another Investor Pulls Out of Anaklia Port Project

Meridian Capital NL B.V has declared it will be unable to invest in the Anaklia deep-sea port venture.

The Georgian Ministry of Regional Development and Infrastructure said in a statement on Tuesday that Meridian Capital NL B.V has presented a written appeal to the Ministry on October 28, stating that it is unable to contribute to the Anaklia Port project as an investor and asking the Georgian government to suspend all ongoing procedures regarding the approval of potential depositor Meridian Capital NL B.V.

“After the American company Conti International decided to quit the Anaklia deep-sea port project, the Anaklia Development Consortium introduced Meridian Capital NL B.V to the Government of Georgia. October 29, was set as the deadline for the approval of the new investor, which would replace Conti International," the Meridian declaration reads.

"On October 28, a representative of the Meridian Capital NL B.V submitted a written appeal to the Ministry of Regional Development and Infrastructure, saying that Meridian Capital NL B.V is unable to participate in the Anaklia Port project as an investor at this stage and asking the Georgian government to suspend all ongoing procedures regarding the approval of Meridian Capital NL B.V.

"The Ministry of Regional Development and Infrastructure of Georgia takes the request of Meridian Capital NL B.V into consideration and expresses its readiness to support all the investors with relevant experience, financial and business reputation to participate in Anaklia Anaklia deep-sea port project,” the declaration reads.

By Beka Aleksishvili