Friday , 23 August 2019
Latest News
A unit of International Container Terminal Services Inc. (ICTSI) has acquired a new concession to develop and operate a container terminal and a ferry and dry bulk handling facility in the Port of Batumi in Georgia, one of the main transportation trade points in the Black Sea basin.

ICTSI acquires Georgia port facilities

ICTSI Georgia Corp., a wholly-owned subsidiary of ICTSI Ltd., obtained the concession from Batumi Port Holdings Ltd. (BPHL), which has exclusive management rights over state-owned shares in Batumi Sea Port Limited. ICTSI Georgia Corp. has formed a holding company, Bantumi International Container Terminal LLC (BICTL), to operate the concession.

BICTL will be the exclusive container terminal operator in the Port of Bantumi, and has been granted a 48-year lease by Batumi Sea Port Limited. The operating agreement covers an area of 13.6 ha within the port, consisting of Berths 4 and 5 for a container terminal, and Berth 6 for use as a ferry terminal and for dry bulk general cargo. The combined length of Berths 4 and 5 is 284 m, with a depth alongside of 11 m. Berth 6 is 180 m long with a depth of 8 m.

BICTL will pay an annual rent of US$0.60 per square metre for the first 18 months, increasing to US$5.50 per sq m thereafter. Investment requirements will include the refurbishment of Berths 4 and 5 to allow the installation of quay cranes to allow container to be handled at these berths.