Silk Road Group is hoping to turn the region’s Batumi Seaport into a centre of yacht tourism on the Black Sea
Silk Road Group, an investment company in Georgia, has plans to make the Batumi Seaport a new centre of yacht tourism on the Black Sea.
Together with the Georgian Fund of Join Investments, Silk Road Group is to begin building a US$250m marina and yacht club within the Batumi territory. Construction is expected to be completed by 2021.
As part of the project, the investor also plans to invest funds in the reconstruction of Batumi Embankment, and to build new residential property, hotels and other infrastructure. The UK’s Chapman Taylor Architects is also involved in the project.
The plans initially involved the construction of a ‘Trump Tower’, but the two sides were unable to reach a final agreement.
Meanwhile, the project has already sparked criticism from representatives of local environmental groups, claiming the development will negatively affect the historical look of Batumi.
If the project is successful, Silk Road Group says it will consider the possibility of building similar yachting infrastructure within the territory at three other Georgian Black Sea ports. According to the company, this would provide a massive impetus for the development of yacht tourism in the entire Caucasus region.