New Port & Terminal to Be Built in Poti

A new terminal and a port will be built in Poti, Georgia’s Black Sea coastal town.

The US Overseas Private Investment Corporation (OPIC) is to invest $50 million in the new port and terminal, while the project will be implemented by the PEI Group. The agreement signing ceremony between the sides took place in Tbilisi on January 4.

President of Georgia Salome Zurabishvili, Prime Minister Mamuka Bakhtadze, members of the government, diplomatic corps and foreign guests attended the signing ceremony.

Georgian PM underlined that it is a very important milestone, as logistics has vital importance for Georgia in the process of its transformation into an economic hub of the region.

“It will be a state-of-the-art terminal complex, which will lead to wide-scale adjustments to the economy of the country and region as a whole. I am confident that this project will become a role model not only for our country but throughout the region,” he said.

Bakhtadze also spoke about the significant contribution made by the OPIC in the economy of Georgia and noted that years back it was an organization that pioneered in funding projects in Georgia. He said that so far OPIC has invested almost $600 million in about 60 projects.

“OPIC has truly significant plans for Georgia. We are very grateful to our US friends, as they took the decision to augment their funding for our country, which is very important,” he said.

The PM noted that robust maritime infrastructure is another step forward in establishing Georgia as a transport corridor for Europe and Asia, adding the aim of the government is to turn Georgia into an economic, logistics and transport hub of the region.

By Thea Morrison