Port operator APM Terminals has presented its plans for the development of a deepwater port at Poti to the government of Georgia.
The plans require an investment of over $250m of private capital for the first phase of development.
The Poti Sea Port is a major seaport off the eastern Black Sea coast at the mouth of the Rioni River as well as the largest port in Georgia, handling liquids, dry bulk, passenger ferries and 80% of Georgia’s container traffic.
The first stage includes a breakwater of 1,700m and a 400m multipurpose quay able to handle dry bulk cargo and an incremental 150,000 teu. The berth will be able accommodate container vessels of up to 9,000 teu.
The second stage will include a 300m container quay equipped with 3 cranes. It will double the annual container capacity at the port to over 1m teu.
The timeline for construction is estimated at 24-30 month and APM expects to complete the first stage development in the second quarter of 2022.
“This investment in the strategically important port of Poti is a proof of our commitment and belief in Georgia and the development of a transport corridor that stretches into Central Asia,” said Keld Christensen, managing director of APM Terminals Poti.
“We are confident in the government’s support and will continue our effort and cooperation with the authorities to make sure Poti Sea Port Corporation remains the main gateway to the Caucasus and beyond,” added Christensen.