Dentons has advised U.S. International Development Finance Corporation (DFC) on financing provided to Pace Group for the expansion and modernization of the Port of Poti, a major seaport and harbor off the eastern Black Sea coast, Georgia. The project, covers the development of a new marine terminal that will be able to accommodate larger vessels up to 253 meters in length carrying up to 50,000 tons of cargo. With a total cost of US$120 million, of which US $50 million is financed by DFC,  this is one of the largest infrastructure projects in the country.

The scope of Dentons’ work included conducting due diligence and assisting DFC in drafting and negotiating security agreements, as well as advising on project documents. The Dentons’ team was led by partner Avto Svanidze, supported by senior associate Mariam Vashakidze and associates Neli Tsivtsivadze, Sopho Mebonia and Darejan Beridze.

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