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The UAE's AD Ports Group will make an initial investment of 61 million dirhams ($16.5 million) to acquire acquire 60% ownership in the Tbilisi Dry Port, a logistics hub in Georgia.
The abu Dhabi-based logistics facilitator has signed purchase agreement with Inveco LLC to acquire the custom-bonded and rail-connected intermodal logistics hub, AD Ports said in a statement on Friday.
The project, currently owned by Inveco LLC and Wilhelmsen, is a logistics hub situated along the strategically important Middle Corridor which links manufacturing hubs in Western Asia to consumer markets in Eastern Europe via sea and dry ports located in Kazakhstan, Azerbaijan, Armenia, Georgia, and Türkiye.
Noatum Logistics, part of the AD Ports Group, will operate and manage the facilities while drawing on expertise and capacities of Inveco LLC and Wilhelmsen.
(Writing by Brinda Darasha; editing by Seban Scaria)
