Turkish COM Petrol prepares modernization project of Turkmenbashi port

Turkmenistan, Ashgabat, Feb. 24 / Trend E. Hasanov /

Turkish company COM Petrol prepared the project to modernize Seaport Turkmenbashi worth €2.5 billion, the official Turkmen source said.

The company suggests to implement the project owing to own and drawn funds. Presently, resort zone Avaza is being constructed at Turkmen coast of the Caspian Sea. Authorities announced Avaza as free economic zone. Experience of free economic zones in the UAE, Singapore and Hong Kong was studied while developing Turkmenbashi Seaport having the international status, the source said.

COM Petrol's package of proposals includes reconstruction of Turkmenbashi port with construction of berth, platforms for warehousing, covered storehouses. The port must be equipped by all necessary and lifting equipment to process great volumes of different freight. The port's regime with duty-free warehousing which is the most optimal variant for business and investors is expected to operate here.

Construction of trade areas and shops with wholesale and retail free trade is also envisaged.

The realization of the project will allow delivering jobs for approximately 15,000 skilled specialists, including bankers, brokers, technical staff, etc. The training center will be opened on this regard.

The infrastructure, necessary for the international logistics center, including financial and business centers, will be created near the port.

All conditions will be created for business forums and meetings, work of representations, branches, departments of the biggest world financial organizations and banks.

High level hotels will be built for companies' employees and businessmen.

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