Feasibility Study of New Port Construction Project in Azerbaijan to be Designed by late 2007
Azerbaijan, Baku / corr Trend S.Aliyev / The designing of the feasibility study of the project on the construction of a new international sea port in Azerbaijan with the cost ranging from $396mln to $422mln will be complete by mid December, Musa Panahov, the Azerbaijani Deputy Transport Minister, said on 22 November.
The final cost of the construction work will depend on the project to be adopted by Azerbaijan. The project of the port is designed by the Korean company GS Engineering & Construction, which is currently holding consultations.
The construction of the new international trade port is scheduled for the first half of 2008.
The port will be built outskirts Baku and it impedes its development, as well as implementation of transport operations. It will be replaced from the Baku bay to Alat village.
The port will be constructed in three stages. The area of the port will be large and managed by advanced technology. Mammadov considers it very important to create logistic transport in the crossing of the north-south and TRACECA because access to rail and road will be ensured.
The first stage of the construction will be over 2008-2011, second - 2011-2013 and the third - 2013-2015. There are plans to create infrastructure in each stage for dry cargo, a container terminal and large port.
The Asian Development Bank, the European Bank for Reconstruction and Development (EBRD), the World Bank and American bank take interests in financing the project.