Kazakhstan’s PTC Holding and Kazakhstan Railways OJSC (KTZ) have announced a $30 million investment in the construction of a multimodal container terminal in Poti, Georgia, according to the company's release.
The terminal will be part of the Trans-Caspian International Transport Route (TITR, Middle Corridor), according to a statement from KTZ. A memorandum of understanding was signed between KTZ and PTC Holding during a meeting of the TITR development working group in Baku.
The agreement focuses on the joint development of terminal infrastructure in Georgia, including the construction of a multimodal container terminal in Poti with an annual capacity of over 80,000 TEU. The terminal is expected to enhance the efficiency of processing packaged and containerized cargo, thereby increasing cargo volumes along the TITR.
“Special attention was paid to attracting investments and resources that will increase the throughput of the route, optimize logistics processes, and strengthen the region’s position in the international freight market. The signing of the memorandum is an important step towards strengthening strategic partnership and the country’s further integration into international transport and logistics chains,” stated KTZ.
The Middle Corridor, or TITR, is an international transport route connecting China and Europe through Kazakhstan, the Caspian Sea, Azerbaijan, and Georgia.
KTZ (Kazakhstan Railways) is the national railway operator of Kazakhstan, responsible for freight and passenger transportation, as well as the development of transport infrastructure.
PTC Holding is a Kazakh logistics and transportation company focused on developing multimodal terminals and transport projects.