US to fund new pier construction in Georgia’s Poti port

The United States will allocate $25 million for the construction of a second pier at the port of Poti in Georgia.

The US International Development Finance Corporation (DFC) has signed a loan agreement with PACE Group to finance the project, Caliber.Az reports per Georgian media.

The funds will be used to complete the construction of the second pier, which is expected to significantly increase the port’s capacity for handling bulk cargo.

Once completed, the project is expected to boost the port’s throughput by around 1 million tons per year.

The report notes that in 2020, the DFC had already provided $50 million to support the development of a new terminal at the Poti port.

By Jeyhun Aghazada