Azerbaijan's AZCO to purchase more than 70 new ships
Baku, Azerbaijan, June 25
By Ilkin Shafiyev – Trend:
In the next 10 years, Azerbaijan Caspian Shipping Company (AZCO) intends to purchase 72 vessels with a total value of 1.5 billion manats, Director of the Company Rauf Veliyev said June 25 at the event dedicated to the Day of the Sailor.
The director of the company also noted that, since 2015 AZCO increased capitalization by 310 million manats.
"The cost of the company is estimated at 1 billion manats. Over the past few years, we have made capital investments amounting to 437 million manats, 99 percent of which were made using the company's profits," Veliyev said.
According to the information on the company's website, there are 23 tankers, 20 cargo vessels, two Ro-Ro vessels and 13 ferries on the balance sheet of the company currently.