The construction of a new
port in Poti is a striking example of the expansion of cooperation between Georgia
and the United States in business, Georgia’s
Minister of Infrastructure Maya Tskitishvili said at a presentation on the
launch of the construction of a new terminal at the Poti port by PACE Terminals.
According to Tskitishvili,
this will be another major US investment in the Georgian economy.
“Today, when our country
is facing political and economic challenges, our strategic partner’s support is very important. Georgia is a major
transport and economic corridor, our historical function is to be the shortest
route between Asia and Europe. Now it is very important to use the potential as
much as possible, ” she notes.
In the Minister’s words, PACE Group has been working in the cargo transportation market in Georgia and
annually improves its performance by attracting new cargoes to the port of
“I want to congratulate PACE
Group and the Overseas
Private Investment Corporation (OPIC) on the successful completion of negotiations launched
in 2014 and lasted 5 years,” she says.
The terminal construction
is financed by OPIC, which allocated $ 50 million for this purpose , the corporation’s
largest investment in the region. The new port will be located on the area of
25 hectares. After deepening the port water area, the new terminal will be able
to receive 60,000- ton vessels.
The total cost of the project is $ 120 million, $ 93 million will be spent on the first stage,
of which OPIC allocated 50 million.