MINISTRY OF ECONOMY
AND SUSTAINABLE DEVELOPMENT
OF GEORGIA

Minister of Economy and Sustainable Development, Mariam Kvrivishvili, together with Prime Minister Irakli Kobakhidze, participated in the solemn ceremony of marking the launch of the second phase of construction of the new sea port in Poti.

The Minister explained that this project is a direct and effective response to the growing demand within the country’s transport and logistics sector.

“This is a project that opens up new perspectives for the country’s economic development and the strengthening of regional connectivity. Over the past few years, the Middle Corridor has emerged as one of the most dynamically developing international transport routes. Consequently, the volume of cargo flowing through Georgia has significantly increased as well.

During the first five months of this year, the volume of cargo transported via the Middle Corridor grew by 21%, while the tonnage of vessels entering Georgian ports increased by 19%. Growth is recorded in practically all key directions, which once again underscores our country’s expanding role in regional and international logistics,” – the Minister of Economy and Sustainable Development noted.

According to Mariam Kvrivishvili, against this backdrop, the additional investment of 40 million USD carries particular importance, as it will substantially increase the capabilities of the new Poti seaport.
“Upon the completion of the second phase, the port’s capacity will reach 3 million tons, operational efficiency will enhance, while cargo handling will accelerate, which will positively impact Georgia’s competitiveness,” – the Minister highlighted.

In the first phase, 93 million USD has already been invested, creating 360 jobs. At this stage of the project’s development, an additional 50 people will be employed.

“I would like to extend special thanks to the U.S. International Development Finance Corporation (DFC), which continues to support Georgia’s economic development, as well as to Pace Group, which has turned a private initiative into a successful project of national significance,” – Mariam Kvrivishvili said.

In her speech, the Minister noted that the public, as well as international partners, are well aware that the Government of Georgia pursues a consistent and clear policy in this direction. She stated that this very vision encompasses the development of the new Poti seaport, the construction of the Anaklia Deep Sea Port, the modernization of railway infrastructure and the development of the East-West highway corridor.

“Today’s investment means more cargo, more jobs, more economic activity, and an even stronger position for Georgia in regional and global trade,” – Mariam Kvrivishvili specified.

Acting U.S. Ambassador Alan Purcell, the Managing Director of the U.S. International Development Finance Corporation (DFC), Kenneth Angell, and Pace International President, Ioseb Dolidze attended the event.
At the conclusion of the event, there was a symbolic time capsule placement ceremony held.

The second phase of the project envisions both the further expansion of the port infrastructure and an increase in capacity. Specifically, a new berth with a length of 250 meters and a depth of 13 meters will be constructed, dredging of the approach water basin will be carried out, a modern ship loader will be installed, and a 700-meter conveyor system will be set up to connect the existing urea warehouse to the new berth.