Azerbaijan, Baku /corr. Trend S.Aliyev / The cost of the construction of a new international marine trade port in Azerbaijan oscillates between $396mln and $422mln. The concluding cost of the project will depend on the project which will be approved by the Government of Azerbaijan, said the Head of Azerbaijan Transport Ministry's Transport Policy and Economic Department, Sadraddin Mammadov,.
The port is projected by the Korean Company GS Engineering & Construction. Putting the first stone of the new international marine trade port is planned to take place in the first half year of 2008.
Currently the port is located in Baku and it presents obstacles for its development and implementation of transport operations. The port will be removed from Baku to Alat settlement.
The territory of the new port will be large and controlled taking into account the upgrade introduced IT technologies. The logistic centre will be established in the cross of the North -South and ТRАСЕСА transport corridors.
The first stage of construction of the port will include from 2008 to 2011, the second - from 2011 to 2013, the third - from 2013 to 2015. Certain infrastructure is planning to establish, as well as square for dry cargo ship and terminals.
Asian Bank of Development, European Bank of Reconstruction and Development and World Bank has already demonstrated interest in financing of the project.