Latest news with #CaspianSea
Zawya
13 hours ago
- Business
- Zawya
AD Ports Group opens Tbilisi Intermodal Hub
UAE - AD Ports Group, an enabler of integrated trade, transport and logistics solutions, has announced the inauguration of the first phase of Tbilisi Intermodal Hub, Georgia's first modern, bonded container and intermodal terminal, and a key logistics link in the group's emerging Central Asian transport strategy. The state-of-the-art, rail-linked logistics centre connects the Caspian and Black seas through Georgia, forming a vital part of the Middle Corridor, the shortest trade route between Asia and Europe. The inauguration was attended by Irakli Kobakhidze, Prime Minister of Georgia; Levan Davitashvili, First Vice Prime Minister of Georgia; Ahmed bin Ali Al Sayegh, Minister of State in the UAE Ministry of Foreign Affairs; Ahmed Ebrahim AlNuaimi, UAE Ambassador to Georgia; Giorgi Janjgava, Ambassador Extraordinary and Plenipotentiary, the Georgian Ambassador to UAE; as well as Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group; Jemal Inaishvili, Founder of Inveco; and Abdulaziz Zayed Al Shamsi, Regional CEO - AD Ports Group. Al Sayegh said: 'Under the visionary leadership of the UAE Government, we are committed to enhancing international cooperation with strategic global partners who share our vision for mutual benefit and sustainable prosperity. The inauguration of Tbilisi Intermodal Hub exemplifies this commitment by actively developing global trade routes and creating market opportunities for UAE and Georgian businesses." AD Ports Group owns a 60% stake in Tbilisi Intermodal Hub, and the rest is held by Inveco, a local Georgian investment advisory firm, and Wilhelmsen Group. The first phase of Tbilisi Intermodal Hub is Tbilisi Dry Port, an Inland Container Depot (ICD) handling container cargo delivered by rail and truck. The group and its partners plan to expand the facility significantly by early 2026 to add long-term warehousing, additional container yards and truck parking, and a fourth railway spur, to transform it into a full-service import-and-export logistics hub for all of Central Asia, a fast-growing region that AD Ports Group is targeting as a strategic growth corridor. Captain Al Shamisi said: 'The inauguration of the first phase of Tbilisi Intermodal Hub is a significant step in our long-term plan to develop the Middle Corridor into a viable East-West trade corridor through Central Asia, where the volume of goods is expected to triple by 2030, according to The World Bank. Under the wise guidance of our leadership in the UAE, AD Ports Group is dedicated to pioneering the strategic, low-impact trade corridors of a sustainable future. With our investments in Tbilisi and elsewhere along the Middle Corridor, we are strengthening global supply chains through investments that foster economic growth and job creation, by creating efficient trade pathways that cater to the emerging economies of Central Asia.' As it expands in its second and third phases, Tbilisi Intermodal Hub will process many types of cargo, including containerised vehicles, and forms of containerised bulk and break-bulk commodities such as minerals, ores, and fertilizers playing an important role in the supply chains of Georgia, Armenia, and Azerbaijan, as well as an East-West crossroads for goods between China and Europe. Tbilisi Intermodal Hub's soft launch commenced on May 3 when it received its first shipment of 30 containers, each carrying over 26 tonnes of cargo, via rail link from an MSC ship docked at Georgia's Black Sea Port of Batumi. An inland extension of Batumi and the Port of Poti, Georgia's key seaports, Tbilisi Intermodal Hub will play a vital role as a logistics staging hub accelerating trade flows across the Caucasus region and Central Asia. The facility has received both customs zone authorisation and Georgia's first railway infrastructure operation and safety certification, from the state Rail Transport Agency. Jemal Inaishvili, Founder of Inveco, Georgia, said: 'The inauguration of Tbilisi Intermodal Hub is a major step for the development of the logistics sector in Georgia and Central Asia. Leveraging its extensive expertise in port operations and logistics, AD Ports Group is introducing advanced management practices to Georgia's logistics sector. This collaboration not only enhances the operational efficiency of the Tbilisi Intermodal Hub but bolsters economic ties between the UAE and Georgia.' The inauguration of the Georgian intermodal logistics hub is a milestone in the group's strategy of developing the Middle Corridor into a viable, modern high-volume trade corridor linking China and Europe by overland route through Central Asia with the Group's ports and maritime assets in Türkiye and Pakistan. Spanning 7,000 km and requiring a journey of 10 to 15 days, the Middle Corridor is expected to handle up to 1.9 million Twenty Foot Equivalent Units (TEUs) of container cargo annually by 2040, as manufacturers seek to avoid longer seaborne routes. Beyond serving the Georgian Black Sea ports of Poti and Batumi as a depot for international shipping lines, the intermodal facility will function as a regional logistics hub for goods destined for neighbouring countries such as Armenia and Azerbaijan. Tbilisi Intermodal Hub is designed for scale and efficiency, featuring three 600-metre-long railway spurs, two dedicated locomotives for shunting connected to the main rail sorting station, a 50,000 sq m container yard equipped with brand-new three-unit reach stackers, and Class B warehouse, covering 2,500 sq m, and a fleet of forklifts and customs-licensed weighing scales. In a second phase to be completed by early 2026, a fourth rail spur will be added, as well as a Class A warehouse covering 9,800 sq m, and additional container yards. Tbilisi Intermodal Hub will initially handle up to 96,000 TEUs annually. The facility enables flexible cargo flows from Central Asia and the Far East via multiple transport modes -- railcars, shipper-owned containers, and trucks -- with seamless cross-docking to ocean carriers for global distribution, and vice versa. By early 2026, the second phase of construction will more than double the annual handling capacity of Tbilisi Intermodal Hub to up to 200,000 TEUs. Besides its connection to Georgia's national rail network, Tbilisi Intermodal Hub has direct access to the country's international highways, bypassing city congestion, and close proximity to major border crossings— being only 70 km from both Armenia and Azerbaijan, and just 7 km from Tbilisi International Airport. The inauguration of Tbilisi Intermodal Hub marks a significant milestone in AD Ports Group's mission to enhance global trade routes and logistics capabilities. This state-of-the-art facility not only strengthens the economic ties between the UAE and Georgia but also positions both nations as pivotal players in the Middle Corridor, AD Ports said. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Trade Arabia
a day ago
- Business
- Trade Arabia
AD Ports Group opens Tbilisi Intermodal Hub
AD Ports Group, an enabler of integrated trade, transport and logistics solutions, has announced the inauguration of the first phase of Tbilisi Intermodal Hub, Georgia's first modern, bonded container and intermodal terminal, and a key logistics link in the group's emerging Central Asian transport strategy. The state-of-the-art, rail-linked logistics centre connects the Caspian and Black seas through Georgia, forming a vital part of the Middle Corridor, the shortest trade route between Asia and Europe. The inauguration was attended by Irakli Kobakhidze, Prime Minister of Georgia; Levan Davitashvili, First Vice Prime Minister of Georgia; Ahmed bin Ali Al Sayegh, Minister of State in the UAE Ministry of Foreign Affairs; Ahmed Ebrahim AlNuaimi, UAE Ambassador to Georgia; Giorgi Janjgava, Ambassador Extraordinary and Plenipotentiary, the Georgian Ambassador to UAE; as well as Captain Mohamed Juma Al Shamisi, Managing Director and Group CEO of AD Ports Group; Jemal Inaishvili, Founder of Inveco; and Abdulaziz Zayed Al Shamsi, Regional CEO - AD Ports Group. Al Sayegh said: 'Under the visionary leadership of the UAE Government, we are committed to enhancing international cooperation with strategic global partners who share our vision for mutual benefit and sustainable prosperity. The inauguration of Tbilisi Intermodal Hub exemplifies this commitment by actively developing global trade routes and creating market opportunities for UAE and Georgian businesses." AD Ports Group owns a 60% stake in Tbilisi Intermodal Hub, and the rest is held by Inveco, a local Georgian investment advisory firm, and Wilhelmsen Group. The first phase of Tbilisi Intermodal Hub is Tbilisi Dry Port, an Inland Container Depot (ICD) handling container cargo delivered by rail and truck. The group and its partners plan to expand the facility significantly by early 2026 to add long-term warehousing, additional container yards and truck parking, and a fourth railway spur, to transform it into a full-service import-and-export logistics hub for all of Central Asia, a fast-growing region that AD Ports Group is targeting as a strategic growth corridor. Captain Al Shamisi said: 'The inauguration of the first phase of Tbilisi Intermodal Hub is a significant step in our long-term plan to develop the Middle Corridor into a viable East-West trade corridor through Central Asia, where the volume of goods is expected to triple by 2030, according to The World Bank. Under the wise guidance of our leadership in the UAE, AD Ports Group is dedicated to pioneering the strategic, low-impact trade corridors of a sustainable future. With our investments in Tbilisi and elsewhere along the Middle Corridor, we are strengthening global supply chains through investments that foster economic growth and job creation, by creating efficient trade pathways that cater to the emerging economies of Central Asia.' As it expands in its second and third phases, Tbilisi Intermodal Hub will process many types of cargo, including containerised vehicles, and forms of containerised bulk and break-bulk commodities such as minerals, ores, and fertilizers playing an important role in the supply chains of Georgia, Armenia, and Azerbaijan, as well as an East-West crossroads for goods between China and Europe. Tbilisi Intermodal Hub's soft launch commenced on May 3 when it received its first shipment of 30 containers, each carrying over 26 tonnes of cargo, via rail link from an MSC ship docked at Georgia's Black Sea Port of Batumi. An inland extension of Batumi and the Port of Poti, Georgia's key seaports, Tbilisi Intermodal Hub will play a vital role as a logistics staging hub accelerating trade flows across the Caucasus region and Central Asia. The facility has received both customs zone authorisation and Georgia's first railway infrastructure operation and safety certification, from the state Rail Transport Agency. Jemal Inaishvili, Founder of Inveco, Georgia, said: 'The inauguration of Tbilisi Intermodal Hub is a major step for the development of the logistics sector in Georgia and Central Asia. Leveraging its extensive expertise in port operations and logistics, AD Ports Group is introducing advanced management practices to Georgia's logistics sector. This collaboration not only enhances the operational efficiency of the Tbilisi Intermodal Hub but bolsters economic ties between the UAE and Georgia.' The inauguration of the Georgian intermodal logistics hub is a milestone in the group's strategy of developing the Middle Corridor into a viable, modern high-volume trade corridor linking China and Europe by overland route through Central Asia with the Group's ports and maritime assets in Türkiye and Pakistan. Spanning 7,000 km and requiring a journey of 10 to 15 days, the Middle Corridor is expected to handle up to 1.9 million Twenty Foot Equivalent Units (TEUs) of container cargo annually by 2040, as manufacturers seek to avoid longer seaborne routes. Beyond serving the Georgian Black Sea ports of Poti and Batumi as a depot for international shipping lines, the intermodal facility will function as a regional logistics hub for goods destined for neighbouring countries such as Armenia and Azerbaijan. Tbilisi Intermodal Hub is designed for scale and efficiency, featuring three 600-metre-long railway spurs, two dedicated locomotives for shunting connected to the main rail sorting station, a 50,000 sq m container yard equipped with brand-new three-unit reach stackers, and Class B warehouse, covering 2,500 sq m, and a fleet of forklifts and customs-licensed weighing scales. In a second phase to be completed by early 2026, a fourth rail spur will be added, as well as a Class A warehouse covering 9,800 sq m, and additional container yards. Tbilisi Intermodal Hub will initially handle up to 96,000 TEUs annually. The facility enables flexible cargo flows from Central Asia and the Far East via multiple transport modes -- railcars, shipper-owned containers, and trucks -- with seamless cross-docking to ocean carriers for global distribution, and vice versa. By early 2026, the second phase of construction will more than double the annual handling capacity of Tbilisi Intermodal Hub to up to 200,000 TEUs. Besides its connection to Georgia's national rail network, Tbilisi Intermodal Hub has direct access to the country's international highways, bypassing city congestion, and close proximity to major border crossings— being only 70 km from both Armenia and Azerbaijan, and just 7 km from Tbilisi International Airport.
Al Arabiya
a day ago
- Business
- Al Arabiya
BP boosts investment in Azerbaijan Caspian Sea projects
BP said on Tuesday that it had completed acquisition of stakes in two offshore exploration and development blocks in the Azerbaijan sector of the Caspian Sea. The agreements to finalize the deal were signed by BP and Azeri state energy company SOCAR, BP said in a statement. There was no immediate indication as to possible production volumes. Separately, the Shah Deniz consortium in which BP has a 29.99 percent interest said it had decided to invest $2.9 billion to expand the Shah Deniz Compression Project, aiming at boosting production from the giant gas field in the Caspian Sea. The project is expected to add 50 billion cubic meters (bcm) of gas and 25 million barrels of condensate production and export, the consortium said.
Reuters
a day ago
- Business
- Reuters
BP says it acquires two exploration and development blocks in Caspian Sea
BAKU, June 3 (Reuters) - BP (BP.L), opens new tab said on Tuesday that it had completed acquisition of stakes in two offshore exploration and development blocks in the Azerbaijan sector of the Caspian Sea. The agreements to finalize the deal were signed by BP and Azeri state energy company SOCAR, BP said in a statement.
Reuters
2 days ago
- Business
- Reuters
Turkey, Azerbaijan, BP in Caspian Sea oil and gas production deal
BAKU, June 2 (Reuters) - Turkish state oil company TPAO will sign a gas production-sharing agreement with Azerbaijan's SOCAR and BP (BP.L), opens new tab for the Shafaq-Asiman offshore block on the Caspian sea, Turkey's energy minister said on Monday. "Today, we are taking further steps with the signing of a major agreement that will increase our oil and gas production in Azerbaijan," Minister Alparslan Bayraktar said at the Baku Energy Week conference. TPAO's share will be 30% and there are also "talks on other fields," Bayraktar said, according to a ministry statement, which added that the agreement will be signed on Tuesday. The Shafag-Asiman block is 125 kilometres (78 miles) southeast of Baku and at depth of 650-800 metres, according to SOCAR's website. The first exploration well was drilled in 2020.
