Azerbaijan, Baku, 26 July / corr. Trend E.Ismayilov / The Azerbaijani Transport Ministry is conducting preparation work to begin designing of a new international sea port at Alat settlement not far from Baku, the Ministry said to Trend on 26 July.
Construction of the port is expected to begin at the end 2008 and at the beginning of 2009. The cost of the port construction was estimated at $396mln and including of oil terminal - more than $450mln.However, the cost of a new stage increased about up to $300mln from the earlier planned $225.
The port is expected to be constructed in three stages. The first stage will cover 2009 to 2011, the second - from 2011 to 2013, the third - from 2013 to 2015. The first stage of the realization of the port project requires 6mln tons of cargo transportation. It is planned to establish certain infrastructure, including areas for dry cargo, container terminal and a large park at each stage.
The Government intends establish the infrastructure through own means, whilst 80%of work may be financed through foreign loans. The Asian Development Bank, the European Bank for Reconstruction and Development, the World Bank and the US banks display interest to financing of this project.
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