APM Terminals Eyes Deepwater Port Development in Georgia
- Business & Finance
Terminal operator APM Terminals Poti has presented its plans to the Government of Georgia for the creation of a deepwater port.
As informed, the project would require an investment of over USD 250 million of private capital for phase 1 and a substantial amount for phase 2 in extensive development of the port infrastructure and superstructure.
“This investment in the strategically important port of Poti is a proof of our commitment and belief in Georgia and the development of a transport corridor that stretches into Central Asia,” Keld Christensen, Managing Director of APM Terminals Poti, commented.
The expansion plan for Poti Sea Port consists of two stages of construction and development. The first stage includes a breakwater of 1,700 meters and a 400-meter multipurpose quay with 13.5-meter depth able to handle dry bulk cargo and an incremental 150,000 TEUs. This berth will be able to accommodate container vessels of up to 9,000 TEU.
In addition, the second stage will include a 300-meter container quay equipped with 3 ship-to-shore (STS) cranes. It will double the annual container capacity at Poti Sea Port to over 1 million TEU.
“We are confident in the Government’s support and will continue our effort and cooperation with the authorities to make sure Poti Sea Port Corporation remains the main gateway to the Caucasus and beyond,” Christensen continued.
The timeline for construction is estimated at 24-30 months. This would require close cooperation with and support from the Georgian Government, to ensure all necessary permits are granted in a timely manner, APM Terminals said.
The first stage is planned to be completed in Q2 2022.