Arab Rakia not intends to sell stake in Poti port
Azerbaijan, Baku, Nov. 2 / Trend E.Ismayilov /
The leadership of the Georgian international trade seaport of Poti denies possible sale of stakes by the shareholders from the United Arab Emirates in 2011, a source in the port told Trend today.
"There is nothing like this [...] all is well underway - the construction of a new port, and a new container terminal," the source said.
The Arabic news agency Zawya citing Khater Massaad, Director General of Arab Rakia, which is co-owner of the Poti port, reported that the company plans to leave the port in 2011. According to him, the port is not a strategic asset for the company.
Massaad did not exclude that the other international assets also will be placed on sale. Rakia has invested $2 billion in three projects in Georgia, Massaad said.
According to him, the investments in the Poti port is small and even if the company's all foreign investment summed and they do not constitute 10 percent of total assets.
Zawya reported that this investor will no longer be focused on the international market and will invest only in the United Arab Emirates.