Georgia's APM Terminals Poti and Poti New Terminals Consortium have signed a memorandum of understanding (MoU) to invest US$100 million in a new bulk cargo terminal.
Expected to be built on APM Terminals Poti land, the terminal will enable the port to process 1.5 million tonnes of dry bulk cargo annually and generate new trade opportunities for customers in the Georgian transit corridor.
The development will entail the construction, development and operation of a new breakwater, dry bulk cargo terminal and related infrastructure to serve bulk cargo customers.
Poti New Terminals will design, develop and manage the dry bulk cargo terminal.
APM Terminals Poti is a Black Sea gateway port serving the logistics industry in the Caucasus and Central Asia markets.