APM Terminals Poti (APMT) and Poti New Terminals Corporation (PNTC) have teamed up to jointly develop a new bulk cargo facility on the northern side of the Poti Sea Port.
Under the deal, APMT will invest in constructing a new breakwater, 400m of quay wall and dredging up to 13.5 meters vessel draft. On the other hand, PNTC will invest in building a new dry and bulk cargo facility including an extensive yard area and rail connection in Poti.
The agreement is conditional on the fulfilment of certain conditions, such as the obtaining necessary construction permits.
“It is an important milestone towards reaching our ambition to develop the best-in-class logistics solution in Poti Sea Port which entails a modern dry bulk cargo facility capable to accommodate Panamax vessels and handle various cargo types on 25 hectares of the customized area,” Keld Mosgaard Christensen, Managing Director of APM Terminals Poti, said.
“This infrastructure will make the supply chain more efficient and effective for local and regional cargo owners.”
The new dry bulk facility will be built during the first phase of the port construction project and is expected to generate an additional capacity of approximately 10 million tons for bulk cargo.
“With an unprecedentedly substantial investment over the coming years during Phase 1 and Phase 2 in developing a new deep-water port in Poti, APM Terminals is clearly demonstrating our confidence in the sustainable future of the Georgian logistics corridor, and the continuous growth of national and regional economies that will stimulate businesses,” adds Christensen.
The agreement was signed on October 15, 2020 in Poti.
The Poti Sea Port is the largest port in Georgia, handling liquids, dry bulk, passenger ferries, and 85% of Georgia’s container traffic.
APM Terminals purchased the port in April 2011, and has since invested over $ 80 million to upgrade the infrastructure and service facilities.
In 2020, APM Terminals Poti announced its plans to create a deep-water port by investing over $ 250 million of private capital for phase 1 and a substantial amount for phase 2 in an extensive development of the port infrastructure and superstructure.
The first stage includes a breakwater of 1,700m and a 400m multipurpose quay with 13.5 m depth able to handle dry bulk cargo and an incremental 150,000 TEUs. This berth will be able to accommodate container vessels of up to 9,000 TEU.
The second stage will include a 300m container quay equipped with 3 state-of-the-art STS cranes. It will double the annual container capacity at Poti Sea Port to over 1 million TEU.