Kazakh-Georgian joint venture starts building multimodal terminal in Poti

ASTANA. Aug 11 (Interfax) - Kazakhstan's PTC Holding group has finalized deconstruction work on the grounds of a future multimodal terminal at the Georgian port of Poti and has started building the new facilities, the group's press service said in a statement.

"Construction of the port terminal will be the first Kazakh infrastructural project in Poti, one of the biggest ports in Georgia and a key element of the Trans-Caspian International Transport Route (TITR), which is crucial for Kazakh enterprises under the global geopolitical circumstances and for diversifying logistic routes," the statement quoted Timur Karabayev, PTC Holding board chairman, as saying at a capsule-laying ceremony that marked the start of the multimodal terminal's construction on Friday.

For the first few years, the terminal will focus on cargo for the TITR and CASCA+ in order to process 80,000 TEU per year and ramp up the volumes in the future.

"This is highly topical, as the geopolitical situation deriving from the events in Ukraine has seriously affected global logistics, including traditional routes of Kazakh exports and imports. The TITR acquires new relevance in this situation," PTC Holding said.

The company estimates the total investment at $15 million to $20 million. The funding will be provided by Kazakh and Georgian project participants on parity terms. The active stage of construction will begin in September 2023, and the project's first phase is due to be commissioned in the first quarter of 2024. The terminal's top capacity, with due account of the technological process, will reach 450,000 TEU per year.

"Since we will be using multimodal technologies, i.e. repackage cargo from the universal fleet, vehicles into containers and vice versa, with the possibility of sending cargo across the Black Sea, our terminal will be able to process up to 5.5 million tonnes of cargo or up to 450,000 TEU," PTC Holding Development Director Olzhas Arykbayev said.

As reported earlier, PTC Holding signed an investment agreement on building a multimodal terminal at the Georgian port of Poti to promote the development of the TITR.

A joint venture, Poti Transterminal, was set up on parity terms to implement the project. Kazakhstan's PTC Holding and its Georgian partners have a 50% stake each. Back then, the project cost was roughly estimated at $10 million.

The terminal will have an area of eight hectares and an annual capacity of 80,000 TEU.

PTC Holding is one of the largest owners and operators of rolling stock and infrastructure in Central Asia. It provides a full range of transportation and logistics services. According to its website, the group delivers cargo domestically, as well as to China, Southeast Asia, Russia, members of the Eurasian Economic Union, and the European Union. PTC Holding accounts for 15% of transit container transportation in Kazakhstan and owns a multimodal container terminal at the Dostyk station on the border with China.