Positive conclusion on feasibility of shipyard project achieved in Kazakhstan

Business Materials 17 August 2012 14:43 (UTC +04:00)

Azerbaijan, Baku, Aug.17 /Trend E.Kosolapova/

A positive conclusion of the state examination on the feasibility of the project Construction of the shipyard and/ ship repair yard in the village of Kuryk in Kazakhstan has been achieved, KazMunaiGas said.

The plant will carry out all types of repair to vessels of various types and purposes, as well as their maintenance amounting up to 70 units per year and the construction of vessels up to 15,000 tons (tankers, cargo ships, barges, support vessels). As a result of the state examination the total project cost is 42.633 billion tenge (149.22 tenge = $1).

The project is implemented by KazMunaiGas in conjunction with the Italian company Eni. The management is being carried out by Management of construction companies of KMG - a wholly owned subsidiary of KazMunaiGas.

The preparation of the feasibility study and design and estimate documentation has been financed by Eni, which will also participate in the financing of the construction.

The design will be carried out with the participation of local companies and the choice of the executors will be completed by December this year.