Georgia’s Poti Black Sea Port To Get Major Infrastructure & Expansion Overhaul
PM Terminals, a unit of Danish Maersk shipping company, plans to build a new terminal at Poti Sea Port in Georgia, with construction expected to start later this year 2022 with completion in 2024.
The terminal will be located on the previous shipbuilding plant in Poti, in the waters of the new port on an area of 25 hectares, able to handle cargo throughput of 50 million tonnes and two million twenty-foot equivalent units (TEUs) per year, upon completion.
The total project volume will amount to US$120 million and will be concluded in two phases.
Poti is on the eastern Black Sea coast and offers onward transit maritime routes to the European Union from the Port, which is connected to the Russia avoiding southern silk road which extends east to China via the Azerbaijani Caspian Sea Port at Baku, then overland by rail across Kazakhstan to the Chinese border in Xinjiang Province. The port can also access southerly routes via Turkmenistan and Uzbekistan.
Uzbekistan in particular is interesting as it is both industrially productive, has a liberal business regime and has signed off significant trade deals with the EU and UK.
Poti forecasts major traffic flows from Central Asia with a new terminal construction. In addition, ships with deep-water vessels, and thus the port, will be able to offer improved customer offers to service larger-capacity vessels and provide faster rotation, resulting in faster infrastructure and improved supply chains, which is good for both Poti and Georgia.
Poti Port is the largest logistics center in Georgia and accounts for a significant part of the country’s trade turnover and international transit.
Chris Devonshire-Ellis is the Chairman of Dezan Shira & Associates. The firm assists British and Foreign Investment into Asia and has 28 offices throughout China, India, the ASEAN nations and Russia. For strategic and business intelligence concerning China’s Belt & Road Initiative please email email@example.com or visit us at www.dezshira.com