New port infrastructure to be created in Georgia's Poti
Baku, Azerbaijan, October 1
By Tamilla Mammadova – Trend:
With the construction of a new terminal in the Georgian port of Poti, the port will be able to receive 2.5 million tons more cargo per year, Trend reports referring to Georgian media.
The total cost of the project is $120 million, of which $50 million will be financed by the US Overseas Private Investment Corporation (OPIC).
Under the project, the port's water area of 25 hectares will be deepened to 13 meters, which will increase the displacement to 60,000 tons. As a result, the port's cargo turnover will increase to 2.5 million tons per year.
Minister of Economy and Sustainable Development Natia Turnava, Minister of Regional Development and Infrastructure Maya Tskitishvili, OPIC Managing Director Kenneth Angel, Director of the Poti terminal David Nadirashvili took part in the ground breaking ceremony and beginning the construction of the new port infrastructure in Poti and laying a symbolic capsule in the foundation.
“This is an opportunity to use our potential, develop the region and create new jobs. By expanding this terminal, we will be able to employ up to 500 citizens of the country. In addition, storage facilities will be built on this territory. Such projects contribute to the development of the transport corridor [in Georgia], which is a prerequisite for attracting new transport and transit flows,” Tskitishvili said.
“The government is doing everything possible to develop port infrastructure of Georgia so that the country can finally establish, strengthen and develop its place in the Eurasian corridor in order to really become a hub. Today’s project is a prime example of this,” Turnava said.
The Government of Georgia calls the development of transit directions one of its priorities. The main infrastructure, which is being built nationwide, is an integral part of the Great Silk Road. This includes the East-West highway passing through Georgia, the Baku-Tbilisi-Kars railway line and the project of the deep sea port of Anaklia.