APM Terminals To Invest $100 Million In Expansion Of Georgian Port
11 May 2012 - 9:13PM
Dow Jones News
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; +45 33 12 44 88; flemming.hansen@dowjones.com
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