APM Terminals has presented plans to Government of Georgia to double the Poti Sea Port’s annual capacity.
In a statement, APM Terminals Poti said the plans would require an investment of over $250 million of private capital for the first phase.
This will include the construction of a 1,700 meter breakwater and a 400 meter multipurpose quay with 13.5 meters depth. This berth will be able to handle 150,000 TEU annually and vessels up to 9,000 TEU in capacity.
The second phase will require another ‘substantial’ amount and will see an extensive development of the port infrastructure and superstructure.
APM Terminals will look to build a 300 meter container quay equipped with three state-of-the-art ship-to-shore (STS) cranes, which will double the TEU capacity to over 1 million TEU.
According to the terminal operator, the construction will take approximately two years to complete.
The Port Sea Poti is the largest port in Georgia and handles 80% of the country’s container traffic.
APM Terminals released conceptual designs for the Poti Sea Port’s expansion in January 2019, which Port Technology International reported on.
Keld Christensen, Managing Director, APM Terminals 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.
“Combining the best logistical solution for our customers and leveraging the know-how and resources of a world-class company, it will create more than a thousand jobs and business opportunities in and around the port.
“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.