Anaklia Deep Sea Port will receive for the second stage of its construction European Union (EU) financing of about €233 million ($266.38 million) as one of the major infrastructure projects in the EU Eastern Partnership countries (EaP).
In addition, the EU will also provide €100 million ($114.33 million) for the construction of a new railroad that will connect Anaklia to the railroad network of Georgia.
The European Commission (EC) and the World Bank have co-authored a Trans-European Transport Network (TEN-T) Investment Action Plan that identifies priority projects across EaP countries. Together, the projects will require an estimated investment of almost €13 billion ($14.86 billion) and foresee a total of 4,800 kilometres of road and rail, six ports, and 11 logistics centres. Anaklia Deep Sea Port will be constructed in nine phases. The total investment value of the project is expected to be €1.7 billion ($1.94 billion).
Maritime construction started at Anaklia port in the second half of 2018. The Dutch maritime contractor Van Oord NV carries out dredging and reclamation work, and will relocate around 5 million m³ of sand from the sea bed.
The Anaklia Development Consortium is developing the Anaklia Deep Sea Port and the Anaklia Free Industrial Zone in the Black Sea to take advantage of China’s new Silk Road policy to develop Asia-Europe trade routes.
The inauguration of the 16-metre deep port of Anaklia, expected in 2020, will re-open the region to international shipping. With 75% of Black Sea vessels having nowhere to dock on the eastern shores, overland trade is only accessible by truck, or through Russia. Anaklia restores multimodal access to Central Asia and the Middle East, all the way to China and India.