Georgia’s National Agency of State Property has prepared amendments for the Law on the Maritime Space in order to regulate issues related to use of artificial islands and peninsulas created in the territorial seas of the country.
The Government said the amendments would delineate rules for management and disposal of artificial islands and peninsulas to encourage investment on the territories.
The development follows an ongoing, $100-million state project for a palm-shaped artificial island near the Black Sea city of Batumi, construction of which started in 2022.
The Ambassador Batumi Island project involves the creation of two artificial peninsulas and one island for an “ultra-modern” resort for entertainment, health, sports, educational, commercial and residential uses.
The bill for regulating artificial island and peninsulas will be introduced to the Parliament next week.
Source : Agenda