TBILISI: Georgia on Monday announced plans to build a new deep-water Black Sea port in a $2.5-billion project that aims to boost trade between China and Europe along the historic Silk Road route.

Prime Minister Giorgi Kvirikashvili said the ex-Soviet country had awarded the contract to build the port to a joint venture called Anaklia Development Consortium, made up of Georgia’s TBC Holding and US-based Conti International.