When the Georgian-Romanian joint venture applied for the status of a Project of Mutual Interest [PMI], the European Energy Community expressed strong support for the Black Sea Submarine Cable [BSSC] project, this played a crucial role in subsequent decisions. Such a statement made the Deputy Minister of Economy.

"Before the project was included on the list of PMI, a comprehensive technical and economic feasibility study was carried out, which confirmed that the realisation of the BSSC was both viable and advisable… The process of studying the Black Sea bed is currently underway, focusing on geophysical and geotechnical surveys, which require specialised ships to operate within Black Sea waters.

Bringing the BSSC project under European energy legislation would facilitate obtaining licences on highly favourable terms and accelerate development, a factor of great importance. Moreover, this legal alignment will significantly aid in attracting investors to the project.

The total investment involved is approximately EUR 3.5 billion. Accordingly, grant funding could range from 30 to 50%, and in some cases up to 75%. This represents substantial support. Serious European and Asian investors are already engaging and expressing strong interest in participating", - said Inga Pkhaladze.