Infrastructure Ministry: Anaklia Consortium will be fined $ 115,000

The amount of the fine to be paid by Anaklia Consortium is up to $ 115,000, - InterPressNews was told by the Ministry of Regional Development and Infrastructure.

Earlier today, the Minister of Regional Development and Infrastructure of Georgia, Maia Tskitishvili, announced the termination of the agreement with the consortium, saying that "Anaklia Development Consortium will have to pay a fine for failing to fulfil obligations.

The Government of Georgia has decided to cancel a contract with the Anaklia Development Consortium and to launch appropriate legal procedures. The Anaklia Development Consortium had to fulfil its duties by December 31, after the government postponed the term for reaching an agreement with potential investors, as well as international banks (EBRD, OPIC, ADB, AIIB) for getting a credit of USD 400 million. Another duty of the consortium was to sign a contract with construction contractors. According to the Georgian government, the Anaklia Development Consortium failed to meet its obligations.