MÆRSK BUYS IMPORTANT PORT IN GEORGIA
In a joint venture with the investment fund RAKIA, APM Terminals will operate Poti Sea Port, which is the largest port in Georgia. IFU contributes with a loan for renovation.
APM Terminals, which is owned by A.P. Møller Mærsk, is the world’s largest container operator with 55 ports in 34 countries. In Georgia the company has bought a share in Georgia’s largest port, Poti Sea Port, which will be expanded and renovated.
Poti Sea Port handles 5 million tons of cargo a year and primarily supplies Georgia, Azerbaijan and Armenia, but also has great potential in relation to Central Asia. In general, economic growth in the region is high and an effective port can contribute to further economic progress.
Poti Sea Port handles containers and almost all other forms of cargo. The port has approximately 3 kilometres moorage, 30 cranes, storage facilities and railway tracks linked directly to the national railroad in Georgia.
APM Terminals will take over operation
With its share purchased, APM Terminals will take over the operation of the port. At the same time a renovation and expansion plan will be initiated to ensure that Poti Sea Port meets the standards of APM Terminals when it comes to efficiency and safety. The renovation is expected to cost more than DKK 500m.
IFU has invested in several ports
IFU has invested in several port terminals in collaboration with A.P. Møller Mærsk, including in Africa and Asia. The background is that modern port facilities are of great importance to whether the countries around the port can participate in global trade and thereby develop their economy.
IFU has contributed to Poti Sea Port with a loan of DKK 95 million to be used for renovating and expanding the port.