BAKU, Azerbaijan, November 14. Albayrak Holding, one of the largest holdings in Türkiye, which includes more than 50 companies, has started realization of its first investment plan worth $20 million for the Baku International Sea Trade Port CJSC (Port of Baku) in the Alat settlement, Trend reports on November 14.
At the first stage, equipment worth $20 million will be used to improve the technical capabilities of the Baku port, attract more cargo, as well as speed up cargo transshipment.
Turkish Albayrak Holding and Port of Baku signed an agreement on cooperation on July 15 this year. In accordance with the agreement, the holding will work jointly with the Port of Baku on Ro-Ro terminal and fertilizer terminal projects, as well as work closely in other important areas.
The main goals of the new cooperation agreement are to create the most comfortable and stable conditions for cargo carriers in the areas of logistics and supply chain, achieve increase in the volume of cargo transportation from China and Central Asian countries to Europe, as well as to Türkiye in transit through Azerbaijan by means of the Baku port.
Besides, ensuring rapid transshipment of attracted cargo using modern logistics solutions is also one of the agreement goals.