Term of Construction of New Port in Azerbaijan Defined

Business Materials 18 December 2007 18:52 (UTC +04:00)

Azerbaijan, Baku / corr Trend S.Aliyev / In April 2008 the Korean company GS Engineering & Construction intends to launch the construction of a new international sea port in Azerbaijan, the Azerbaijani Ministry said.

"In January it is planned to launch preparatory work and in April the construction," the Ministry said.

By 20 December the Korean company will present to the Transport Ministry the feasibility study of the project on construction of anew port with the fluctuating between $396mln and $422mln.

The final budget of the construction of will depend on the project to be adopted by Azerbaijan. The port is designed by GS Engineering & Construction, which is currently in consultations.

At present the port is located in outskirts of Baku, which actually prevents its development, as well as implementation of transport operations. It will be relocated from the Baku bay to Alat settlement.

The port will be built in three stages with the consideration of its development. The territory of the port is large and is managed with the consideration application of advanced IT-technologies. A logistic center will be established in the crossroads of transport corridors North-South and TRАСЕСА, because the port will have an exit to railway and automobile road.

The first stage of construction of the port will cover the period from 2008 to 2011, the second from 2011 to 2013 and the third stage from 2013 to 2015. At each stage it is planned to establish definite infrastructure including a place for dry cargo, container terminal and others.

The Asian Development Bank, the European Bank for Reconstruction and Development, the World Bank, American banks and others displayed interests in financing this project,