BAKU, Azerbaijan, March 18
Tamilla Mammadova – Trend:
A new marine terminal with an investment of $93 million under construction in Georgia's Poti port, Trend reports via Georgian media.
The project is being implemented by Pace Group, a Georgian company operating in the port. Representatives of the company said the first phase of the construction will be completed in September-October 2021.
The new marine terminal will occupy 27 hectares, its length totals 260 meters with a water depth of 13 meters. This will be the first modern facility in Georgia to handle deep-water vessels.
The total project cost is $93 million, of which $50 million will be allocated by Overseas Private Investment Corporation (OPIC) and the remaining $43 million by Pace Group as an equity contribution.
"Today none of the Georgian ports, including Batumi and Poti Ports, have such depth. A new marine terminal with a depth of 13 meters will allow us to receive 50,000-ton ships. We started construction in October 2019, the pandemic hindered us a bit, but I can tell you that it will be completed in September-October of this year," said Irakli Tateishvili, representative of the company.
According to the project, the new terminal will be able to process 6.5 million tons of cargo in a year.
---
Follow the author on Twitter: @Mila61979356
