Azerbaijan, Baku, 23 April / Trend corr. I.Khalilova / The Financial Ministry of Azerbaijan appealed to the Societe General, BNP Paribas and Czech Eksimbank with a request to submit proposals to finance construction of a new international trade port in Alat, the Azerbaijani Transport Ministry reported on 23 April.
According to the preliminary assessments, the port cost is $396mln and over $450mln taking into consideration the oil terminal. However, according to the data, the cost for the first stage has increased from $225mln to $300mln.
The Government is planning to establish the structure at an expense of its own funds, but about 80% of work might be financed at the expense of foreign borrowings.
At present, consultant of the Ministry of Transport - South Korean JS Engineering & Construction is preparing to submit final version of the feasibility study of the project and negotiations have been held with the international financial institutions. Cost of the project is expected to be increased due to additional measures, proposed by corresponding bodies of the executive power of the country. The proposals on electricity system and water supply were received.
"A new multi model marine port will be constructed. There are plans to create a free economic zone in the territory in the future, besides the logistic centre," the Ministry reported.
Construction of the port is expected to be launched in the first quarter of 2008.
First stage of construction of the port will be covered from 2008-2011, second - 2011-2013 and third - 2013-2015.
The official rate on 23 April is 0,8276 AZN/USD
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