APM Terminals Poti has revealed its plans for the creation of a deep-water port to the Government of Georgia.
The plans involve extensive development of the port infrastructure and superstructure which are to be completed in two phases.
The first phase will include a breakwater of 1,700m and a 400m multipurpose quay with 13.5 m depth able to handle dry bulk cargo and an incremental 150,000 TEUs. This berth will be able accommodate container vessels of up to 9,000 TEUs. The cost for phase 1 is estimated at $250 million and will be funded through private sector investment.
The second phase will include a 300m container quay equipped with three state-of-the-art STS cranes. It will double the annual container capacity at Poti Sea Port to over 1 million TEUs. The cost for phase 2 will also be funded through private sector investment.
Keld Christensen, managing director of APM Terminals Poti, commented: “This investment in the strategically important port of Poti is proof of our commitment and belief in Georgia and the development of a transport corridor that stretches into Central Asia,”
Christensen added: “The expansion project – the cost of which is negligible to the average Georgian taxpayer – will lead to a significant economic advancement for the country and region. Combining the best logistical solution for our customers and leveraging the know-how and resources of a world-class company, it will create more than a thousand jobs and business opportunities in and around the port.”
The timeline for construction is estimated at 24-30 month. This would require close cooperation with and support from the Georgian Government, to ensure all necessary permits are granted in a timely manner. According to this planning the first stage would be completed in Q2 2022.