Azerbaijan. Baku, Aug.11 / Trend /
By a decision of the Azerbaijani Cabinet of Ministers dated Aug.10, a board of the Transport Ministry's Baku International Sea Trade Port, which is under construction, has been founded on a self-financing basis.
The Transport Ministry, Economic Development Ministry, and Finance Ministry are instructed to address issues arising from the decree. It will enter into force after the signing.
The new port is under construction in the Alat settlement in the Garadagh district of Baku.
According to the decree posted on the official website of the Cabinet of Ministers, the port board was established to ensure timely and qualitative construction and commissioning, compliance of construction work with the approved design estimates, increasing the appropriateness of funds management that were allocated from the state budget and from international financial sources, as well as for operative addressing problems that may arise during construction.
The new international sea port in the Alat settlement will be constructed in three stages. The first stage envisages the construction of two bridges for ferry boats, three freight bridges for containers, Ro-Ro ships, and simple (universal) dry cargo ships.
The second stage of the project envisages the construction of three other freight bridges. The third stage envisages the construction of two additional freight bridges.
The project is worth more than $400 million. After the port is finished, its capacity will be 11.6 million tons of cargo.
The port will be multimodal because it will create a free economic zone and a logistic center.