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New infrastructure to be created in Poti port of Georgia

01 October 2019 12:29 (UTC +04:00)

Construction of new dock in the Poti Port of Georgia will be started with financing Overseas Private Investment Cooperation (OPIC) of the US, APA’s Georgian bureau reports.

The symbolic grounding ceremony of the project which costs $50 mln will be held today.

The symbolic founding ceremony will be attended by Minister of Economy and Sustainable Development of Georgia Natia Turnava, executive director of OPIC Kennet Angel, director of the Poti terminal David Nadirashvili and the founder of the “PRIM CONCRETE” Alexander Sokolovski.

It is stated that the freight turnover of the Poti Port project will be increased by 5 mln ton. The new project will cover 25 hectares of the dock infrastructure.

The total amount of the project is estimated at $120 mln. $93 mln is demanded for the first execution phase and $50 mln of this amount was allocated by OPIC.

Note that the financing agreement of the Poti terminal has been signed in May, 2019.