New bulk cargo terminal MOU announced in Poti, Georgia
APM Terminals Poti and Poti New Terminals Consortium signed a Memorandum of Understanding (MOU) for a USD 100 million dollar 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, the company said in its press release.
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.
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 and included customers and honorary guests from the Ministry of Economy and Sustainable Development of Georgia, Georgian Railway and Sea Administration, officials from Poti City Hall and Municipality, employees of Poti Sea Port Corporation and business leaders invited by Poti New Terminal Consortium.