AD Ports has inked a purchase agreement with Inveco, acquiring a 60% stake in Georgia’s Tbilisi Dry Port, a new custom-bonded and rail-connected intermodal hub under development in Georgia, according to a press release on Friday. The project, which looks to be operational by 4Q 2024, is slated to act as a key hinge in the strategically vital Middle Corridor, an emerging trade route linking manufacturing hubs in Western Asia to markets in Eastern Europe. No details regarding the investment ticket were disclosed in the statement.

Who’s involved? AD Ports’ logistics subsidiary Noatum will operate and manage facilities at the port, while coordinating with partners Inveco and Wilhelmsen, the release explained.

The details: The project covers two land plots that will be developed over three phases, with the initial phase seeing a handling capacity of some 96.5k TEUs, 10k sqm of warehousing space, and car storage yards, the statement also said. The third phase will see capacity boosted to 286k TEU, 100k sqm of warehousing space, and more expansive car storage yards. An additional 88k sqm of land is available for future expansion subject to volume growth.

More on the dry port: The intermodal logistics hub connects the Caspian Sea and Black Sea via Turkey, Georgia, and Azerbaijan, the statement said. The port will consist of a range of integrated facilities, including a container freight station, warehouses, and a car storage park, and will serve as an entry, exit, and regional transit point for manufacturers, shippers, and consignees moving containers, vehicles, and other merchandise for distribution and storage.

REMEMBER: AD Ports Group finalized its acquisition of Spain-based Noatum in mid-2023, after receiving regulatory greenlight, with the outfit being valued at EUR 660 mn at the time.

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