A new marine terminal with an investment of 93 million USD is being constructed in Poti. The project is implemented by Pace Group, a Georgian company operating in Poti Port. 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 of 50,000 tone.
The new marine terminal will process a cargo of 6.5 tons during a year in total. Of the total cost of the project, $ 50 million is contributed by the U.S. International Development Finance Corporation, while the remaining $ 43 million is paid by Pace Group. Pace Group predicts that the company will repay the DFC’s loan in 15 years.
"This terminal allows us to attract another 3-4 tons of cargo, which is an additional indirect activity for the Georgian Railway, our terminal and Azerbaijan transport infrastructure. All cargo needs warehouses; those services are provided by small companies. It is difficult to say now how much the financial benefits will be. According to our calculations, we will repay the DFC’s loan in 15 years. Of course, we have to pay this loan from the profit, but this whole financial resource is intended to repay the loan,” said Irakli Kervalishvili, director of Pace Group.
