Azerbaijan, Baku / Trend corr. I.Khalilova / The South Korean STX holding submitted the final feasibility study to the AZerbaijnai Investment Company (AIC) on construction of the ship building plant in Azerbaijan, Anar Akhundov, AIC's Executive Director said on 29 November.
"We have developed commentaries to the estimation document which will be presented at the first quarter of December," Akhundov said. The date for presentation of the document depends on the time-table of STX top-managers visit to Baku.
The cost of the project will depend on choose of scenario by the Azerbaijani Government, which depend on the depth of the bottom where the work to be launched. "Moreover, the cost of the project depends on total construction work in the territory," Akhundov said.
The plant is planning to construct in Alat region of Azerbaijan, as well as the new international Trade Marine Port.
The memorandum on joint financing of the project was signed by AIC and STX in Seoul on 24 April 2007. The feasibility study of the project is developed by STX. The Korean holding is the key shareholder, and AIC is planning to become 25% shareholder.
The Ship Building plant will be the complementary to the project on construction of a new oil terminal and port in Garadag region of Azerbaijan. The Kazakhstan's oil will be transported via the terminal for further transit via the Baku-Tbilisi-Ceyhan pipeline to Europe.