CHANEL ENERGY FULFILED ITS PROMISE

RUSUDAN USHIKISHVILI

Poti has played a great role in the political and economic development of Georgia. Its port has always been of much importance. Presently, it has turned into sea gates visited by many ships.

In October 9 of this year, president Edward Shevarnadze visited Poti. The purpose of his visit was opening of a new court building, sport-complex and terminal in Poti.
The Turkish company Channel Energy Corporation made investments (20 million investment) in the construction of the terminal. As representatives of “Channel Energy” and Poti terminal say, the joint project envisaged for putting the terminal into exploitation in the first stage. The second phase will be launched in June next year. At the same time, it is a one-time investment. The investment continues in the third stage of the development of the terminal.
One fact is noteworthy: for years aquatorium cleaning works have been performed by a special ship. The Georgian party rented the ship as it did not have its own. This cost our country 1,5 million dollars per year. The same works are now performed by the ship “Niko Nikoladze” that was built by a foreign company “Demen Shipyard” . Georgia has purchased the ship by installments. The purchase of this ship is a great event for Georgia. The country will gradually pay for the cost of the ship instead of paying a million and a half worth rent. It will be possible to rent “Niko Nikoladze” if Georgia does not need its services any more, which will be an important source of income for our country.
The opening ceremony of the terminal was attended by both high-rank Georgian officials and foreign guests, among them representative of Channel Energy, European Bank of restructuring and development bank (EBRD) and holding company Tebodin. The mentioned company supervises construction of terminal, i.e. the norms of technological, environmental protection, etc.
William Haut (representative of Tebodin)
“I was very worried thinking that the construction works would not end by the fixed date, but I am happy now that everything has been carried out on a high level and by a date fixed. As a matter of fact, all forces were mobilised in early January in order to bring the work to completion. The company has not broken the fixed date. It is now two weeks that the terminal functions.
The terminal was constructed on a very high level in accordance with international standards. I am really delighted in work performance, responsibility and quality. I also like the joint work of local partners and foreign investors. We really give a positive estimation to the work. As you can see the result is obvious”.
As for the partnership of Georgians and foreigners, Jemal Iniashvili, head of the Poti port says:
Everything started in 1998 when we met representatives of the company “Channel Energy”. They came to see Poti port. We informed them of our business plans. Thus, grounds for the partnership of “Channel Energy” were laid. In fact, preparation period took much time, but when construction began, the events developed rather fast and the terminal was ready one year later.
I would like to say that this project is important not only from the economic, but also from the political point of view. One of the main factors of project realisation is that it has been controlled by the president from the very first day.
Today, we have witnessed the way terminal was put into operation in the first stage. The second phase is planned to be put into operation in June next year. This will make it possible to store 120 thousand tons oil products and process 4 million tons cargo.
It is also noteworthy that a search ship in the port carries out works in 40 meter depth. These data are necessary for projecting a new dock. We increase the number of docks along with the construction of storage houses which is necessary for the reloading of oil products and tankers.
In the first stage, docks were modernised. It will be able to receive ships with 60 thousand tonnage. The second stage envisages for the construction of a new dock with the same tonnage”.
The world’s largest oil companies have already taken a real interest in Poti dock, Jemal Oniashvili says. These are the following companies: “Glenkore”, “Trafigure”, “Total”, “Buren” and other comparatively smaller companies.
Makhmed Hababi, president of Turkish company “Channel Energy” is very content with Georgia’s partnership. He says company will continue its investment.
Makhmed Hababi:
“We have worked for four years in Georgia. Co-operation with Georgia and our investments continue. We are very happy the Georgian President came to Poti because there was almost nothing during his visit half a year ago. We told him then that everything would be ready for September, but I think he did not believe it. It was, probably, because many foreign investors come to Georgia, but their work has never been completed. As you can see, we have fulfilled our promise.
We have a joint company at the Poti port. It is our partner in the project implementation. The port transferred land resources to our property. In return, we must finance the total cost of the project. The Poti port is a 25% co-participant of the project. European bank of reconstruction and development and Black Sea business development banks will be partners of the Poti port up to 2010”.
Helen Anundskoys (EBRD representative):
“We are really content with the relationships between Georgian partners and foreign investors. It is a mixture of foreign experience and local knowledge. The Poti terminal is of much importance to Georgia as it promotes the development of trade in the Caucasian region. The investment climate in Georgia is not so favourable. That is why it is necessary to involve local forces in the implementation of foreign investments.
I would like to say that grounds for new relationship was laid in Georgia through the financing of the project. EBRD intends to make further investments in Georgia”.