'Meridian' drops out as Anaklia project investor

'Meridian' drops out as Anaklia project investor

Georgia's Ministry of Infrastructure announced that Meridian Capital Limited investment firm says it’s unable to participate in the Anaklia Deep Sea Port project at this stage.

On October 28, 2019, Meridian Capital Limited confirmed that at this stage it does not have the opportunity to become an investor of the Anaklia Deep Sea Port project, and requested the Georgian government to suspend all ongoing procedures regarding the approval of the company, Agenda.ge reported.

Anaklia Development Consortium proposed Meridian Capital Limited to the Georgian government as a new investor to replace American Conti International after its decision to leave the consortium, which it announced on August 15. 

The Georgian government allows the Anaklia Development Consortium to try to come up with the needed capital for the project by the end of 2019.