APM Terminals (APMT) Poti has presented its plans for the creation of a deep-water port, which requires over US$250m of private capital for phase one and a substantial amount for phase two, to the government of Georgia.
The first stage includes a breakwater of 1,700 m and a 400 m multipurpose quay with 13.5 m depth, able to handle dry bulk cargo and an incremental 150,000 teu, designed to accommodate container vessels of up to 9,000 teu.
Phase two will double the annual container capacity at Poti Sea Port to over 1m teu with the addition of a 300 m container quay equipped with three state-of-the-art ship-to-shore cranes.
Keld Christensen, managing director of APMT Poti, said: “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.
“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.”
The timeline for construction is estimated at 24-30 months and would require close cooperation with and support from the Georgian government to ensure all necessary permits are granted in a timely manner.
If APMT’s plans go smoothly, the first stage would be completed in the second quarter of 2022.
Christensen added: “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.”