07.Feb .2022 00:13

PACE Terminal Opens in Poti

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One of our Government's key goals and priorities is to shape Georgia into a regional hub tapping into our location and potential. Consequently, our government, since inception, has been fully supportive of this project, and we now reaffirm this support to Pace and each of its employees, Georgian Prime Minister Irakli Garibashvili stated at the opening ceremony of a new seaport in Poti.

The Prime Minister-in the company of Minister of Economy and Sustainable Development Natia Turnava, US Ambassador Kelly Degnan, and Pace Group's President Ioseb Dolidze-visited the new seaport built through the joint effort of Pace Group and the US International Development Finance Corporation (DFC).

93 million USD has been invested into the seaport's construction, with large hydrotechnical facilities built and modern port infrastructure installed.

The Prime Minister, in his speech, pointed out that Pace carried out the large-scope construction of Poti's new port, a far-reaching project for the region, starting in 2020. According to him, hundreds of jobs were created in the process, a crucially important aspect for the region's population amid the pandemic.

The value of the new seaport, one of the largest among Georgia's ongoing maritime projects, is almost 120 million USD. The US International Development Finance Corporation (DFC) allocated 50 million USD to finance the project, the organization's largest single investment for a project in the region. After the project's finalization, the capacity of Georgia's unified seaport infrastructure will increase by 3.5 tons.

Together with the Prime Minister of Georgia, the US Ambassador, and the President of Pace Group, the participants of the official opening ceremony were also addressed by President of the America-Georgia Business Council Mamuka Tsereteli. The guests also familiarize themselves with a video address by Albright Stonebridge Group's Vice Chair James O'Brien, who read a letter from Madeleine Albright, former US Secretary of State and Chair of Albright Stonebridge Group.

“I am especially pleased about the strong support of the U.S. government to this project including the USD 50-million investment of OPIC,” Albright said. She claimed that Poti was an important trade center and its expansion would help the city to gain more benefits.