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You're reading: Georgia to build $323 million port on Black Sea

Tbilisi - The Georgian government plans to build a new port on the Black Sea with a preliminary price tag of 535 million lari ($323 million), the country's presidential press service said in a statement. 

Construction should be completed in the first half of 2015.

“Port of Lazika will be set up on an 85 hectare territory and has potential to become a transport hub between Europe and Asia in terms of its technical parameters and geographical location,” the statement said, quoting Georgian President Mikhail Saakashvili.

Saakashvili said that Lazika will be the biggest port on the Black Sea since the depth of the water area at this location comes to no less than 20 meters, which allows large-tonnage vessels to dock.

Four ports are now in operation on the Georgian coast of the Black Sea – Poti, Batumi, Kulevi and Supsa. 

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