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Kurt Conti: There are New Investors in Anaklia Port Project

Kurt Conti: There are New Investors in Anaklia Port Project

Project of Anaklia Port is in the active phase. Holders of the Port are preparing for construction works and they are selecting the managing company. Investment research is being carried.

Kurt Conti, co-founder of “Anaklia Development Consortium” discussed the new details of the Project to TV-program “BusinessContact”, including entrance of new investors in the project.

GBC reports short-version of an interview.

  1. Four big companies are interested in the operating of the port, to which you held the meeting, among them is SSA Marine. How do you think, who has greater chance to become operator of Anaklia Port?

All of them are big companies, including SSA Marine, which representatives have spent a long time in Georgia and they know that business proposal is very important for the company as well as for the country, because the project must employee  a lot of people. Professionalism is very important in the selection process of the operator and we give great importance to it as well. I hope that finally, we will agree in the commercial part.

  1. How do you distribute investments and shares in the project?

Conti Group and TBC Group have the equal 40%-40% shares in the project. Van Oord holds small share from the remained 20% , there are several new inventors and totally we are 5 shareholders. I cannot talk on concrete investments at this stage. Negotiations are held, but I do not see any risk linked to the funding. We started negotiations related to the funding of this project with EBRD and the other financial institutions 8 months ago. So, they are carrying feasibility study before adoption of the decision.

  1. Why have you decided to enter Georgia envisaging economic environment in the region. What prospects you have seen in this country?

According to the World Bank, Georgia will have 5% economic growth, which is very good indicator comparing to other countries. There always are upward and downward trends. When we talk about the Port, we should envisage 20-40 year period.  However, noticed trend in the country is important. Since then, we have started working in the country, we are constantly assured that the country has done an important job and formed good business environment. Of course there are challenges, but they are everywhere, however the most important is how the country handles them. Georgia is an excellent place for making the investment envisaging the business climate.