On May 29, 2024 Georgian Minister of Economy and Sustainable Development Levan Davitashvili announced that a Chinese-Singaporean consortium had won the tender for the construction of the Anaklia deep-sea port in Georgia on the Black Sea.
The consortium includes China Communication Construction Company and China Harbor Investment, with China Road and Bridge Corporation and Qingdao Port International as subcontractors. The decision underscores the Georgian government’s turn from the West toward China after declaring a “strategic partnership” just last year.
The deep-sea port located on the Black Sea is expected to become a critical node in Beijing’s Belt and Road Initiative. The port is reported to be the largest infrastructure project in Georgia.
Georgian state company “Anaklia Deep Sea Port” owns a 51-percent share in the Anaklia project, and the consortium will own a 49-percent share.
In recent years, US officials have often voiced concerns about Russia and China’s role in the Anaklia project. The US is widely seen as behind prolonged riots and what amounted to a recent failed attempt at a “colour revolution” in Georgia . However, ignoring external threats, in 2020 the Georgian government canceled a $2.5 billion port cooperation agreement with the US company Conti-International.
The decision to award the contract to the China-based consortium has also caused dissatisfaction with the European Union, as once China has the right to operate the port, it will enable larger-scale goods to be transported more efficiently in the future, which undoubtedly brings new challenges to the EU’s strategic vision of trade barriers and “derisking” from China.
In today’s globalized economy and trade, ports have become an indispensable core node in the global shipping network, providing effective channels for the rapid import and export of goods for countries around the world.
Video source: Insider Truth, June 29, 2024. https://youtu.be/UeroNDnnRcc?t=80