The Anaklia Development Consortium lost its dispute against the Government of Georgia in the International Arbitration Court. This was announced by the Prime Minister of Georgia, Irakli Kobakhidze. Mamuka Khazaradze, the founder of the consortium and chairman of the oppositional Lelo party, described the arbitration decision as "disappointing."
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"There was a case presented in international arbitration, specifically 'Khazaradze-Japaridze v. Georgia,' and in this case as well, Georgia emerged victorious for one simple reason: the state always follows the rules in its actions. This practice was established in Georgia after 2012, and because of it, the state consistently wins cases in all international courts, including arbitration, when disputes arise between representatives of the 'National Movement' and the state of Georgia.
Khazaradze and Japaridze are also representatives of this collective political force, and they attempted to use international arbitration against the Georgian state. However, in this instance, the truth and the state, which always acts according to fair rules, prevailed," said Irakli Kobakhidze on the air of "Imedi" TV.
Earlier, Mamuka Khazaradze wrote on Facebook that the International Arbitration Chamber had announced its decision on the lawsuit he and Badri Japaridze, along with the foreign investors of the Anaklia port, filed in 2020.
"The arbitration decision is disappointing because it means tens of thousands of jobs have been lost for Georgians. A modern, Western-financed port in Anaklia, which could have been built and operational long ago, would have created enormous opportunities for the people of Georgia. Properly developed, the port would have generated tens of thousands of decent jobs for Georgian citizens.
Unfortunately, Georgian Dream, at the behest of Russia, first delayed our work on this project for years and then completely blocked its implementation," Khazaradze wrote. He did not specify the details of the arbitration decision.
In 2016, an investment agreement for the construction and operation of the Anaklia deep-water port was signed between the Government of Georgia and the Anaklia Development Consortium. The port, considered a strategic project, had its foundation-laying ceremony attended by then Prime Minister Giorgi Kvirikashvili and the consortium's founder, Mamuka Khazaradze. The Anaklia Development Consortium included TBC Holding (Georgia) and Conti International (USA).
In 2019, the General Prosecutor's Office launched an investigation against the founders of TBC Holding, Mamuka Khazaradze and Badri Japaridze, accusing them of laundering 16 664 000 US dollars. Mamuka Khazaradze claimed that these charges were intended to halt the Anaklia deep-water port project. In 2020, the government terminated the contract with the consortium due to the alleged failure to fulfill its obligations.
The Anaklia Development Consortium, along with one of the main investors, Dutch businessman Bob Meyer, filed two arbitration claims against Georgia in 2020. The lawsuits sought compensation for damages, which, according to the plaintiffs, exceeded 1 billion dollars. The consortium argued that this amount reflected losses suffered by the consortium and Bob Meyer as a direct result of "the Georgian government's campaign to undermine the Anaklia Port Project." The consortium submitted their arbitration claim to the International Court of Arbitration of the International Chamber of Commerce (ICC), while Bob Meyer filed his claim with the International Centre for Settlement of Investment Disputes (ICSID).
On May 29, 2024, Georgian Minister of Economy Levan Davitashvili announced that a Chinese consortium would be a private investor in the strategic project of the Anaklia deep-water port.
