Page 50 - GEORptFeb22

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Georgia starts construction of Algeti-Sadakhlo road, providing new corridor from Armenia to Russia
on the Black Sea coast. The update is expected to be completed within eight to nine weeks.
The government terminated its contract with the Anaklia Development Consortium (ADC) in early 2020, citing the investors’ failure to finance their intended $2.6bn project and find a strategic partner.
The government was set to start the process of selecting a new potential investor for another attempt at rolling out a project in the near future, Georgian Prime Minister Irakli Garibashvili said in March.
MTBS will also develop a new marketing strategy and select the optimal model of public-private partnership as part of the contract signed with the Anaklia Deep Sea Port Development Agency.
Construction of the deep sea port started in 2017.
Deputy Economy Minister Guram Guramishvili said that by the end of this year it would be possible to announce an expression of interest and to select a new investor for “the crucial and strategic project”.
The Anaklia port is expected to significantly increase the transit potential of Georgia, as it would open the way for the transit of goods between Central Asia and Europe.
Georgia plans to build more than 20 roads by 2024, one of which is expected to become an alternative compact corridor from Armenia to Russia, Armenian Public Radio reports.
The road from the border with Armenia, from the Sadakhlo checkpoint to the border with Russia, will allow Yerevan to become part of the East-West European Highway. Georgia has recently received a loan from the European Investment Bank (EIB) for the construction of a new road leading to the Armenian border.
Tbilisi starts construction of new Algeti-Sadakhlo road postponed due to the Covid-19 pandemic. The road will halve the time needed to reach Russia.
It will bypass Marneuli and other surrounding settlements, becoming a new transit route for cargo transportation from Armenia to Russia. It will join the project of the century, the East-West Highway (E-60), which is the second largest European transit corridor.
“There will be a modern road in the territory of Georgia from the border with Armenia to the border with Russia. The project is unprecedented for both Georgia and Armenia,” says Paata Tsagareishvili, Director of the Transport Corridor Research Center. He believes it will facilitate the cargo transportation and contribute to the development of tourism in Georgia.
In Georgia, the construction of both the East-West highway and the North-South road is under way. According to political scientist Giorgi Gobridze, Georgia will try to maintain its transit role in the conditions of new realities in the region.
9.1.7 Property sector news
Abandoned rural homes now instant sellers in Georgia as city dwellers unsettled by coronavirus turn to remote working
Abandoned rural homes have reportedly become an instant seller in Georgia as the coronavirus (COVID-19) pandemic has lifted demand for out-of-town retreats.
Lekso Charkviani is said to be a man on a mission to revive forsaken villages. Moved by the plight of his own village, whose population has shrunk to a few families, Charkviani, according to a Thomson Reuters Foundation by phone.report, roams mountain roads in the former Soviet republic searching for deserted houses with character and a bit of land—and finds new owners for them.
50 GEORGIA Country Report February 2022 www.intellinews.com