Georgia Ports Authority to invest US$1.2b to fuel trade growth with Asia
The Georgia Ports Authority (GPA) board of directors plans to invest US$1.2 billion in improvement works to the ports under its control in a bid to secure future growth with Asia.
Capital investments include new super post-panamax container cranes and rubber-tyred gantry cranes, major technology upgrades and other terminal improvements, a statement from port authorities said.
"We're making investments today to accommodate Georgia's booming trade with Asia tomorrow," said Steve Green, GPA's vice-chairman. "Asia's economy continues to fuel world trade and is developing a vibrant domestic market for Georgia-made products."
Georgia is the second largest importer and exporter of goods to and from China on the US east coast. Looking at Hong Kong alone, Georgia is the third largest importer and second largest exporter on the east coast.
The GPA currently serves six Suez services, three of which call at ports in southeast Asia and three of which link the US east coast port to India and the Middle East. The GPA expects two more Suez services to start making stops at its ports within the next three months, including one service from India and one from Southeast Asia.
Last year, 1,116,062 TEU, or 53 per cent of the GPA's total 2.1 million TEU throughput, consisted of direct imports and exports to and from China, including Hong Kong.
Capital investments include new super post-panamax container cranes and rubber-tyred gantry cranes, major technology upgrades and other terminal improvements, a statement from port authorities said.
"We're making investments today to accommodate Georgia's booming trade with Asia tomorrow," said Steve Green, GPA's vice-chairman. "Asia's economy continues to fuel world trade and is developing a vibrant domestic market for Georgia-made products."
Georgia is the second largest importer and exporter of goods to and from China on the US east coast. Looking at Hong Kong alone, Georgia is the third largest importer and second largest exporter on the east coast.
The GPA currently serves six Suez services, three of which call at ports in southeast Asia and three of which link the US east coast port to India and the Middle East. The GPA expects two more Suez services to start making stops at its ports within the next three months, including one service from India and one from Southeast Asia.
Last year, 1,116,062 TEU, or 53 per cent of the GPA's total 2.1 million TEU throughput, consisted of direct imports and exports to and from China, including Hong Kong.