COPENHAGEN (Dow Jones)–The port-operating arm of Danish industrial conglomerate A.P. Moller-Maersk A/S (MAERSK-B.KO), APM Terminals, will invest over $100 million to ramp up capacity in the Georgian port of Poti over the next three years.
APM Terminals, which operates the port of Poti, will build new container and bulk cargo terminals and deepen the berths there with the aim of boosting the cargo-handling capacity by an estimated 50%, the company said Friday.
According to estimates from the International Monetary Fund, Georgia’s gross domestic product is expected to expand by 6% in 2012, following growth of 7% in 2011.
Along with the increasing importance of the sea lane that passes through the Black Sea and services Eastern Europe and Central Asia, the economic growth of Georgia presents both a challenge and an opportunity to port operators in the region.
APM Terminals is the world’s leading port and inland operator with 62 port facilities in 36 coutnries.
-By Flemming Emil Hansen, Copenhagen Bureau, Dow Jones Newswires
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 108,885 members that receive our newsletter.
Have a news tip? Let us know.
The Port of Vancouver in British Columbia, Canada, saw booming liquid bulk exports in 2024, with volumes skyrocketing 203% to reach 17.1 million metric tonnes (MMT), driven primarily by the...
The Port of Long Beach continues its strong performance into 2025, marking nine straight months of increased cargo movement. February saw the port handle 765,385 TEUs, representing a 13.4% increase...
Australia is scrambling to deploy new long-range missiles as the recent arrival of powerful Chinese warships off the Australian coast delivers a sharp reminder of Beijing’s growing naval muscle.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
