The construction of an industrial zone and new port close to Poti will begin in Spring 2009

The Russian aggression in August and the occupation of Poti by Russian troops have hindered the completion of a well-advertised Government project, the free industrial zone close to Poti and the construction of a new port.

As part of this project, 51% of Poti Port was handed over to Arab company Rak Investment Agency on a 49 year lease. The company is obliged to develop a free industrial zone on 100 hectares of land. More than USD 200 million should be invested in the construction of the new port within the next 3-4 years.

According to Government estimations about 6-9,000 people will be employed in the construction of the free industrial zone. The Government says 16-22,000 people will be employed as soon as the zone is created.

The completion of the zone was put in doubt after the Russian aggression, when Russian troops reached Poti and established a checkpoint on the free industrial zone site. However, due to the pressure from the EU, Russia had to retreat. Currently project works are underway concerning the new port. The cost of the port construction will be known after the fulfillment of the project.