Original news was published 19 January, 2018

THE Black Sea gateway port, APM Terminals Poti has inked a memorandum of understanding (MoU) with the Poti New Terminals Consortium to build a new US$100 million dry bulk cargo terminal with an annual handling capacity of 1.5 million tonnes in Georgia.

The new breakwater, dry bulk cargo terminal and related infrastructure will be constructed on land owned by APM Terminals Poti and is expected to create new trade opportunities for customers within the Georgian transit corridor, reported London's Ship Technology.

Poti New Terminals, which primarily serves the logistics industry in the Caucasus and Central Asia markets, will be responsible for the design, development and management of the dry bulk cargo terminal.

Head of the Poti New Terminals Consortium Tamaz Chkhikvishvili noted in his speech prior to signing the MoU, 'the time has come for Georgia to make use of the historic corridor, transporting shipments from China to the Middle East and other countries. Building a new, bulk cargo deep-sea terminal in Poti will give us such an opportunity,' he said.

'Building a new bulk cargo terminal in Poti will not only create new employment opportunities, but will also attract new railway shipments and will open new investment possibilities,' Mr Chkhikvishvili added.

The new Bulk Cargo Terminal is to be 300 metres long and 135 metres deep, spread over a 10-12 hectare area.

In a separate development, the Alabama State Port Authority (ASPA) in the US and APM Terminals last month approved the $49.5 million expansion of the container facility at the port of Mobile in Alabama.

The phase three expansion will be carried out in collaboration with ASPA. The work will involve the lengthening of a dock and the addition of 20 acres of yard space.

Upon completion, the expansion will enable APM Terminals to accommodate an annual throughput capacity of 650,000 TEU at the port.

*NEWS SOURCE