Port of Poti: Pace Terminal Agreement Inked

Image source: OPIC

Acting President of the Overseas Private Investment Corporation (OPIC), Mr. David Bohigian, and representatives of the Pace Group, Mr. Joseph Dolidze and Mr. Irakli Tateishvili signed a $50 million loan agreement last week for development, construction and operation of a multifunctional marine terminal at the Georgia’s Port of Poti – Pace Terminal.

According to a Pace Group’s official announcement, the new terminal will require dredging work in the harbor to a depth of 12 meters, which will result in the sea port being able to accept vessels up to 253 meters in length and a load capacity up to 50,000 tonnes.

Once completed, this new ultra-modern deep seaport and terminal complex in the Poti New Port Basin is expected to boost Pace Group’s port infrastructure.

The $50 million investment is the largest loan approved by OPIC for one particular project in Georgia and the entire Caucasus Region.

The Pace Terminal Project is expected to become a unique and powerful maritime infrastructure, and will be seen as another big step for Georgia towards establishing the country’s own transportation corridor.

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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