For more than three decades, Pace Group has played a key role in the strategic process of connecting Asia to Europe
In the Black Sea, Poti port is the main gateway for the Transport Corridor Europe Caucasus Asia (TRACECA), the shortest route between Europe, the Caucasus, and Central Asian countries. Pace Group is the largest Georgian-American transportation company with the port and logistics infrastructure, covering maritime agencies, brokerage, logistics, container services, port, and terminal operator companies. The group started operating in Georgia in 1992, importing American humanitarian aid cargo. Over the years, the company has become a regional player with more than 1,000 employees, owning and operating the Poti New Sea Port as well as operating eight berths of Poti Port.
Last year was particularly vital for the company as one of the most significant projects in the Georgian maritime sector, the New Poti Sea Port, was unveiled. The project, with a total value estimated at $120 million, is expected to process an additional 2.5 million tonnes of freight annually, almost doubling the company's current annual cargo turnover of three million tonnes. The U.S. federal government supported the project financially through a $50 million loan issued by its International Development Finance Corporation.
"We are proud to be the largest and oldest private company in the supply chain sector of the region. Along with the country's development, Pace Group manages to attract more and more traders. Georgia is already a transit hub, and opportunities in the region are growing at a rapid pace", says Irakli Kervalishvili, Pace Group co-founder.
"Now that the role of the Middle Corridor has become crucial for regional cooperation, Pace Group is keeping up and plans to build a new berth in the harbour of Poti New Port. The company believes that the growth rate of cargo turnover in the Georgian corridor will continue increasing, partly because of Georgia's rapidly developing relationship with the United Arab Emirates and other Gulf countries."
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