ECONOMY

OPIC to Invest $50 mln in New Pace Terminal in Poti Port

17.05.19 16:00


The Overseas Private Investment Corporation (OPIC), one of the major financial institutions of the USA, is to allocate investments amounted to $50 million for the construction of a new multi-functional marine terminal at the Port of Poti, Georgia.

 

The relevant agreement was signed on May 16 at the OPIC headquarters in Washington and attended by David Bakradze, plenipotentiary Ambassador of Georgia to the USA.

 

The Public Information Summary briefs about the outstanding features of the Poti Port and accentuates the long-term positive outcomes that would be followed by the launch of the new Pace terminal.

 

“The improved port will increase trading capacity for the country, which is an important transit link to connect Central Asia and Europe. The Project will create many permanent, local jobs and support the economic development of the Samegrelo – Zemo Svaneti region, where the average monthly income is only 28 percent of the average income in Tbilisi,” reads the Summary.

 

The OPIC has been involved in a number of major projects, carried out in Georgia and already made investments worth of $600 million.

 

source: GeorgiaToday/ georgiatoday.ge

Read:


Write comment

Warning!
(In their comments, readers should avoid expressing religious, racial and national discrimination, not use offensive and derogatory expressions, as well as appeals that are contrary to the law)

Send
You can enter 512 characters

News feed


Caucasus Plus