APM Terminals Poti is ready to make a significant investment and commence the expansion project, the company announced.
APM Terminals Poti (JSC Poti Sea Port Corporation) proposes to invest at least USD 200 million in the port expansion project subsequent to the Georgian government’s issuance of a decree authorizing the signing of an agreement between the Government of Georgia and APM Terminals Poti.
APM Terminals Poti announced the intention to invest in the expansion of port infrastructure and superstructure to expand the existing port in Poti a few years ago.
The new facilities in Poti will support the growth of international trade through the Georgian Transit Corridor, greatly contributing to the country’s economy and development of the Middle Corridor.
The expanded port will employ several hundreds of people, with the absolute majority being locals. Part of the investment will be in modern technology and equipment, including fully electric Ship-To-Shore cranes – a first for Georgian ports, and which will enable APM Terminals to offer world-class levels of productivity to ships calling Poti.
The construction is planned to boost Poti Sea Port’s yearly container capacity by at least 400,000 TEU, reaching an overall capacity of more than one million TEU.
“This purely European investment will give Poti and Georgia a new life. We are the primary gateway to Europe for the Caucasus & Central Asia, and we are therefore strongly committed to developing and expanding our port and its infrastructure, introducing new environmentally friendly equipment, and creating hundreds of new jobs,” said Julián Fernández, Managing Director of APM Terminals Poti.
The port expansion project will be carried out to the north of the current port. It will be launched in phases with a total FDI of over USD 200 million.
“We have been in intensive negotiations with the Georgian government, and we are confident that the government’s support will translate into the prompt signing of the agreement. This will allow us to progress to the implementation stage, as APM Terminals is fully committed to commence the expansion project,” added Julián Fernández.
Phase one involves the development of a 6.8-hectare Container Yard extension, a new 330-meter Quay, a 1.5-kilometer Breakwater, dredging for the access channel, turning basin, and berthing pocket and installation of two Ship-To-Shore cranes. The expanded port will be able to handle vessels of up to 13.5 meters draft – the largest vessels that can enter the Black Sea. The building timetable is projected to take up to 36 months, requiring strong cooperation and support from the Georgian government to guarantee that all essential permits are given on time.
