The port of Poti in Georgia is to receive investment of $500m from Ras Al Khaimah of the United Arab Emirates over the next four to five years.
The money is being made available by the Rakia investment fund, which acquired a 100% stake in 2008 at a cost of $155m.
Reconstruction work of existing facilities will be completed in May, while a new port adjacent to the existing one will be built at the cost of $300 million.
This is needed to boost grain and cement capacity.
The money is being made available by the Rakia investment fund, which acquired a 100% stake in 2008 at a cost of $155m.
Reconstruction work of existing facilities will be completed in May, while a new port adjacent to the existing one will be built at the cost of $300 million.
This is needed to boost grain and cement capacity.