The international container terminal operating APM Terminals said that its port of Poti has presented its plans for the creation of a deep-water port to the Government of Georgia.
The plans require an investment of over 250 million USD of private capital for phase 1 and a substantial amount for phase 2 in an extensive development of the port infrastructure and superstructure.
“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,” explained Keld Christensen, Managing Director of APM Terminals Poti.
“The expansion project - the cost of which is negligible to the average Georgian taxpayer - will lead to a significant economic advancement for the country and region. Combining the best logistical solution for our customers and leveraging the know-how and resources of a world-class company, it will create more than a thousand jobs and business opportunities in and around the port.”
The expansion plan for Poti Sea Port consists of two stages of construction and development. The first stage includes a breakwater of 1,700m and a 400m multipurpose quay with 13.5 m depth able to handle dry bulk cargo and an incremental 150,000 TEUs. This 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 state-of-the-art STS cranes. It will double the annual container capacity at Poti Sea Port to over 1 million TEU.
“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 Keld Christensen.
The timeline for construction is estimated at 24-30 month. This would require close cooperation with and support from the Georgian Government, to ensure all necessary permits are granted in a timely manner. According to this planning the first stage would be completed in Q2 2022.