APM Terminals Poti and Poti New Terminals Consortium have signed a Memorandum of Understanding (MOU) for a $100 million investment in a new bulk cargo terminal that can process 1.5 million tons of dry bulk cargo annually and generate new trade opportunities for customers in the Georgian transit corridor.
According to the official statement, the new terminal is expected to be built on APM Terminals Poti land and infrastructure and will entail the construction, development and operation of a new breakwater, dry bulk cargo terminal and related infrastructure to serve bulk cargo customers.
“Poti New Terminals’ expertise will design, develop and manage the dry bulk cargo terminal to today’s world-class port standards,” said APM Terminals in its release.
APM Terminals Poti is a Black Sea gateway port serving the logistics industry in the Caucasus and Central Asia markets and is an economic engine for Georgia’s future growth.
The MOU was signed January 12, 2018, at the Courtyard Marriott, Tbilisi.