“When the Georgian-Romanian joint venture applied for Project of Mutual Interest (PMI) status, the European Energy Community strongly backed the Black Sea Submarine Cable project, which was key to later approvals,” said Inga Pkhaladze, Deputy Minister of Economy and Sustainable Development.

Pkhaladze explained that before the project was added to the PMI list, a detailed technical and economic feasibility study confirmed that the Black Sea Submarine Cable (BSSC) is both viable and advisable.

She added that studies of the Black Sea bed are currently underway, including geophysical and geotechnical surveys, requiring specialised vessels capable of operating in the area.

The Deputy Minister highlighted that aligning the project with European energy legislation will simplify licensing, accelerate development, and make it more attractive to investors.

“The total investment is around €3.5 billion. Grant funding could cover 30–50 per cent, and in some cases up to 75 per cent, providing substantial support. Serious European and Asian investors are already showing strong interest in participating,” Pkhaladze concluded.