New Port to be Built in Georgia –Prime Minister
Georgia, Tbilisi, 28 March / Trend corr. N.Kirtskhalia / The Georgian Government approved the project on construction of a new port in the area of already existing Poti port during the meeting on 28 March.
According to the Georgian Prime Minister Lado Gurgenidze, the Dubai company Rak investment agency will construct the port. A contract for construction of the port will be signed with Rak investment company in April.
The new port will be constructed on 100 hectare territory, and investor will invest more than $200mln to the project within three or four years. Prime Minister said the existing port of Poti is working on the highest capacity with 8.2mln tons per year. There was taken a decision to build a new port, which will increase the capacity to 35 or 40mln tons for both ports.
Some 51% of Poti Port to be sold to Rak investment company and the state will keep 49% of golden shares and may put them to the local stock exchange. Initially, according to the Prime Minister, 100% of shares were assessed by $75mln, although the investor will pay more for 51%. Gurgenidze did not detail the sum.