The Government of Georgia has decided to cancel a contract with the Anaklia Development Consortium and to launch appropriate legal procedures. The issue was discussed at today's governmental meeting.

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. Apart from that,  the consortium was obliged to sign a contract with construction contractors. As the government says, the Anaklia Development Consortium has failed to meet its obligations.