Present Day
Batumi today is the main port of Georgia. It has the capacity for 80,000-tonne tankers to take materials such as oil. This oil originates from Azerbaijan and is shipped all over the world. Smaller oil exports also come from Kazakhstan and Turkmenistan. Additionally the city exports regional agricultural products. Since 1995 the freight conversion of the port has constantly risen, with an approximate 8 million tonnes in 2001. The annual revenue from the port is estimated at between $200 million and $300 million.
Since the change of power in Ajara, Batumi has attracted several international investors with real estate prices in the city trebling since 2001. Kazakh investors have reportedly invested $100 million to purchase more than 20 hotels in the Ajara region of Georgia. Construction of a number of new hotels will be launched in Ajara’s Black Sea resorts starting from 2007.
Batumi was also host to the Russian 12th Military Base. Following the Rose Revolution, the central government pushed for the removal of these forces, and in 2005 an agreement with Moscow was reached. According to the agreement, the process of withdrawal was planned to be completed in a course of 2008, but the Batumi base was officially handed over to Georgia on November 13, 2007, ahead of planned schedule.
Read more about this topic: History Of Batumi
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