The agreement was signed between the US Overseas Private Investment Corporation (OPIC) and the Georgian-American transport company PACE Group in Tbilisi, sources report.

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Specifically, OPIC will provide PACE Group with $50 million to construct a new sea terminal in the port of Poti. The terminal will be located on the previous shipbuilding plant in Poti, in the waters of the new port on an area of ​​25 hectares.

The total project volume will amount to $120 million and will be concluded in two phases. The total investment value for the first phase is $93 million, of which $50 million will be provided by OPIC.

The berths will be 650 m, and their capacity is calculated on 2.5 million tons of bulk and general cargo, as well as 100 thousand TEUs. The depth in the port water area will be around 12-15 m, which will enable the accommodation of vessels with a carrying capacity of 50-60 thousand tons.

Georgia has the development of transit routes as a priority. The main infrastructure will be a key part of the Silk Road. These include the East-West highway, the modernization of the railway, the Baku-Tbilisi-Kars railway line and the project for the deep-water port of Anaklia in western Georgia, which will be the first deep-water port on the Black Sea.