Azerbaijan, Baku, June 7 / Trend E.Ismayilov /
An Azerbaijani project to create an international logistics center at the Alat Port was selected to participate in the TRACECA investment forum, TRACECA National Secretary from Azerbaijan Akif Mustafayev said.
Only 23 of over 40 projects were selected by 13 TRACECA participating countries, he said.
Work to prepare these projects for presentation at the forum is underway, including preparations for feasibility studies and risk assessment, Mustafayev said.
The port will be multi-modal, as in addition to its logistics center, plans include establishing a free economic zone.
The construction of a new international sea port in the village of Alat will be implemented in three phases and completed by 2015. The first phase involves the construction of two ferries and three cargo berths for containers. The second phase involves the construction of three more cargo berths and the third phase covers the construction of two additional cargo berths. The project is estimated as costing over $400 million.
TRACECA is a target multi-country program supporting political and economic development in the Black Sea, Caucasus and Central Asia.