Abu Dhabi Ports Group signed an agreement with Inveco to acquire a 60% stake in Tbilisi Dry Port.
Mentioning that Tbilisi Dry Port owns a strategical location along the Middle Corridor.
Which is a trade route linking manufacturing hubs in Western Asia to consumer markets in Eastern Europe.
The project is expected to be operational by Q4 2024.
Moreover, it will provide significant intermodal logistics capabilities with state-of-the-art warehousing facilities and a cargo and vehicle logistics hub.
This development will surely support the growth of trade between the UAE and Georgia.
Abu Dhabi Ports Group Project Details:
The project consists of two land parcels and its development will be in phases.
The first phase will have a handling capacity of 96,500 TEUs, 10,000 sqm of warehousing, and a car storage yard.
Upon completion of the third phase, the project will have a handling capacity of 286,000 TEUs.
In addition to 100,000 sqm of warehousing and an expanded car storage yard.
Noatum Logistics, a subsidiary of Abu Dhabi Ports Group, will operate and manage the facilities.
Benefits:
- The project will strengthen trade and investment ties between the UAE and Georgia.
- It will enhance AD Ports Group’s global reach and provide market access opportunities for UAE and Georgian businesses.
- The project will contribute to the growth of the logistics sector in Georgia.
Background:
The Middle Corridor is the shortest trade route linking Asia and Europe, covering a distance of approximately 7,000 kilometers.
Moreover, the current Northern Corridor covers around 10,000 kilometers by land.
While the Southern Sea Route covers around 20,000 kilometers.
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The Middle Corridor will make significant growth in container handling.
Which is projected to reach 1.9 million TEUs by 2040.
Obtaining a majority stake in Tbilisi Dry Port is a significant achievement by Abu Dhabi Ports Group.
As it will strengthen the UAE economic position in the world.
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