Baku, Azerbaijan, October 15
By Tamilla Mammadova – Trend:
Prime Concrete, a Georgian construction company, commissioned a new Pace Terminal in Poti, Trend reports via Georgian media outlets.
The project is co-financed by the US Overseas Private Investment Corporation (OPIC). An official ceremony to mark the beginning of construction was held in Poti on October 1, 2019.
Prime Concrete CEO Alexander Sokolowsky underlined the importance of the Georgian company winning the tender.
“We are extremely glad to engage in the construction of this strategic facility. It is an exceptional occasion when a Georgian company under the contract takes full responsibility for such large-scale project”, he said.
The new terminal will occupy 25 hectares of the New Port Zone in Poti’s former shipyard. The total length of the berthing facilities will be 650 meters, with a water depth of 12 meters. This will be the first modern facility in Georgia to handle deep-water vessels by 2020.
The total cargo turnover of the terminal will be 5 million tons. The terminal will increase the country’s strategic importance as a hub between East and West and as an integral part of the Belt and Road Initiative.
