"The project construction start date has been pushed back to late 2023/2024, with an expected completion date of the project in the first quarter of 2026," according to the company's management report, which is attached to the 2022 financial statements and was prepared on May 1, 2023.
"The project includes the construction of an additional 1,800-meter breakwater, a 400-meter berth and a 25-hectare warehouse area with modern work equipment and superstructures. The expansion project is aimed at both bulk and container cargo and will allow the port to serve 250 m. total length and 13.5 m deep draft ships. As a result, the port will be able to offer better value to customers by making the most of infrastructure and improving the supply chain, which will benefit Poti and Georgia to accept larger vessels and offer a faster turnaround," - the report says.