Page 55 - GEORptJun22

Administration.
Revenues from travel increased by 490.6% compared to March 2021.
For the whole first quarter of the year, the revenues from travel reached $393.7 68.1% of the figure reported in Q1, 2019. Compared to January-March 2021, travel revenue increased by 635.2%.
For the 12-month period to March 2022, tourism revenues in Georgia reached $1.59bn, roughly half of the pre-crisis annual level.
9.1.6 Infrastructure and construction sector news
Georgia to start Anaklia deepwater port project from scratch
Georgia starts construction of Algeti-Sadakhlo road, providing new corridor from Armenia to Russia
Georgia’s Ministry of Economy has asked international consulting company Maritime & Transport Business Solutions (MTBS) to update the freight forecast and business model for the Anaklia deep sea port project 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
55 GEORGIA Country Report June 2022 www.intellinews.com