The Overseas Private Investment Corporation, a US government agency supporting American companies to make foreign investments, has signed a 50 million-US dollar contract with the aim of building a multi-function marine terminal at the port of Poti, Georgia.
According to the agreement, the investment will help Georgia increase its trading capacity and develop its transit role between Central Asia and Europe.
“This project is expected to have a highly developmental impact on Georgia through the rehabilitation of a berth facility and the development of an international standard, multi-functional dry cargo terminal,” the agreement says, adding the investment will make the port of Poti able to handle large trade vessels up to 253 meters in length and with the capacity to carry up to 50,000 tons of cargo.
“The improved port will increase trading capacity for the country, which is an important transit link connecting Central Asia and Europe. The project will create many permanent, local jobs and support the economic development of the Samegrelo – Zemo Svaneti region,” OPIC added.