BAKU, Azerbaijan, April 27
By Tamilla Mammadova – Trend:
APM Terminals will invest $170 million in the expansion project for Georgia's Poti port, said Deputy Economy Minister Guram Guramishvili, Trend reports via Georgian media.
According to him, the state will deliver land area to the port for expansion.
"APM Terminals, subsidiary of MAERSK, which operates Poti Port expressed a desire to expand. The company plan to build a new port berth in the north and develop container and bulk cargo. Negotiations on the investment plan are underway now. The state will allocate land area and transfer it to APM Terminals, where the company plans to invest $170 million," said Guramishvili.
Meanwhile, APM Terminals plans to invest from $250 to $300 million in Poti port. According to the project, a new container and bulk cargo terminal (Bulk Cargo) should be built near the existing berth.
Earlier, Bulk Cargo Service and APM Terminal in Poti signed a long-term cooperation agreement on the creation of new bulk cargo handling facilities at the 12th berth of the Poti seaport. The aforementioned cooperation will contribute to the development of new opportunities in the port and create a competitive environment that will significantly improve the movement of bulk cargo through the transport corridor of Georgia.
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