The construction of a seaport in Poti was completed successfully through the joint efforts of Pace Group, the US International Development Finance Corporation and the Georgian Prime Minister Irakli Garibashvili. At the Poti New Port’s opening ceremony, Georgian Prime Minister Irakli Garibashvili was present, as well as Minister of Economy and Sustainable Development Natia Turava, US ambassador to Georgia Kelly Degnan and members of Georgia’s cabinet and parliament, and representatives from the diplomatic corps and maritime industries.
Irakli Garibashvili addressed the guests.
“One of the key goals and priorities of our government is to transform Georgia into a regional centre, leveraging our location and our potential. Let me highlight the involvement of our key strategic partners, the United States of America in this project. Specifically, 50 million USD of financing allocated by International Development Finance Corporation. This is another demonstration of Georgia being an attractive country to foreign investors, with the largest transport and transit potential in the area,” the PM said.
PM Garibashvili thanked Pace Group President Ioseb dolidze and all employees of the company for successfully implementing this project and for demonstrating remarkable social responsibility. This is especially true in light of the pandemic and the creation of hundreds of new positions.
Poti New Port, valued at 120 million USD is one of Georgia’s largest maritime projects. The US International Development Finance Corporation has made the largest investment in a project ever by its organization.
“I am delighted that the United States has played a major role in the construction of the Pace Terminal through the Development Finance Corporation. This is a sign of our commitment to the prosperity of Georgia and the Georgian people. Georgia’s investments to become a safe, responsible partner in transport come at a perfect time. These investments will help Georgia to establish global and regional connections at a time when the world is searching for alternative routes and supply chain,” said US Ambassador to Georgia Kelly Degnan in her speech.
Degnan said that this port is the key link between prosperity, security, and stability. The United States is committed in helping Georgia, a strategic ally, develop port infrastructure. “Our mutual interest is served in an atmosphere that respects freedoms of navigation, access of waterways, rule of law and national sovereignty.
“This port is a part of the physical lifeline that connects Georgia to Europe. It is also a sign of Georgia’s Euro-Atlantic ambitions,” Kelly Degnan said.
The construction of the new port has cost 93 million dollars. It includes large hydrotechnical installations and modern port infrastructure, including:
– A 260-meter berth;
– Completely reconstructed breakwater structures
– 1.5 million cubic metres of soil were removed from the Poti Port New Harbor to increase its depth further to 13 meters.
Closed warehouses of 50,000 tons capacity, equipped with fully automatic reloading system manufactured in Europe
– 6 Hectares of open storage areas;
– Two new mobile cranes, each with a 100 ton load capacity, are exclusively manufactured and installed in the seaport.
The project’s expansions, which are worth an additional $30 million USD, include the construction of a 230-meter-deep-water (13-meter) berth. Modern port equipment and devices, such as a ship-loader and a conveyor system, will be installed.
“This port represents Georgia’s impressive economic transformation since it gained independence in 1991. The Poti new sea port will create jobs and stimulate economic growth. It will also strengthen Georgia’s position as a strategic transit country connecting the Caucasus, Central Asia and Europe, further boosting trade. The Poti Sea Port will continue the productive partnership between Georgia and the United States of America, which has lasted for many years,” Kenneth Angell said in his video.
The new port infrastructure and berth will allow up to 50,000 Mt of cargo capacity to be handled by bulk carriers and container vessels. The port will handle containers, bulk and break-bulk cargos.
After the project is completed, the capacity of Georgia’s unified port infrastructure will increase by an additional 3.5 tons.
Madeleine Albright, former Secretary of State and Chair of Albright Stonebridge Group, discusses these opportunities and the port’s importance in her letter to celebrate the opening of Poti’s New Sea Port.
“The Poti New Sea Port Project offers greater economic opportunities for the residents of Poti as well as Georgia and all Black Sea and Caspian states. Albright said that by transporting 3,000,000 tonnes of cargo via the port, everyone is a winner.
“The United States of America are convinced that each country has the right decide its own role in relation to the rest of the globe. We also know that each country has the right to real trading opportunities on different markets. This instrument is part and parcel of putting trade and choice potential to use. “This aspect gives it special importance not only from a point of view of commerce and trade, but also for all of us who are striving to make a better life for ourselves and our countries,” she continues.
The Poti Sea Port will boost the country’s port and transit capacity, as well as offer new opportunities to redirect new cargos into Georgia’s transport routes.
More information about Pace Group
PACE Group is Georgia’s largest transportation company, comprising maritime agencies, brokerage and logistics, container services as well as terminal operator companies. The group employs more than 1,000 people and has a cargo turnover of over 3,000,000 tons per year. Pace Group is focused on developing maritime and transport infrastructure and attracting new cargos based on modern technologies.
Pace, a US registered company, was founded in New York in 1992. Pace International has transported humanitarian goods allocated by the United States of America in the Caucasus and Central Asia region, mainly via the Poti or Batumi seaports.
Pace began transporting humanitarian and commercial cargo in the late 1990s. Pace has been operating eight berths at the Poti port since the early 2000s. This is based on a long term lease agreement. In 2002-2003 the company built a large warehouse complex. This allowed the primary aluminum from the Tajik Aluminum Plant to be transported through Georgia. After acquiring the necessary machinery/equipment Pace began transporting aluminum oxide (a raw material) from Poti to the plant in Tajikistan.
In 2007, Pace, together with Israeli company ZIM, founded ZIM Georgia. This allowed Pace to expand their container transportation activities.
In 2013, Pace built a reverse grain terminal in collaboration with AGRICOM. In the same period, Pace purchased the Poti Shipyard and decided to build a modern port infrastructure on this territory.
Signed on February 4, 2019, the agreement on financing construction of the new port. Construction will begin in September 2020.
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