APM Terminals Poti, a subsidiary of JSC Poti Sea Port Corporation, unveils plans for a significant investment exceeding USD 200 million in a port expansion project following the Georgian government’s recent decree authorizing an agreement between the two parties.
The expansion initiative, initially announced by APM Terminals Poti several years ago, aims to enhance the port’s infrastructure and superstructure in Poti. This development is poised to bolster international trade through Georgia’s transit corridor, a move expected to catalyze economic growth and further the development of the Middle Corridor.
The project, set to create hundreds of job opportunities primarily for local residents, will incorporate cutting-edge technology such as fully electric Ship-To-Shore cranes, marking a groundbreaking advancement for Georgian ports. With the expansion set to increase Poti Sea Port’s container capacity by over 400,000 TEU annually, the overall capacity is projected to surpass one million TEU. The phased expansion, with a total foreign direct investment exceeding USD 200 million, is scheduled to commence north of the current port area, with the first phase encompassing various developments including a Container Yard extension, Quay extension, Breakwater construction, dredging, and installation of crucial infrastructure. The ambitious timeline for completion underscores the necessity of robust cooperation and support from the Georgian government to ensure timely permit issuance and project execution.