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Azerbaijan’s import of ships up

Business Materials 7 December 2020 20:57 (UTC +04:00)
Azerbaijan’s import of ships up

BAKU, Azerbaijan, Dec. 7

By Fidan Babayeva – Trend:

Azerbaijan imported ships, boats, and vessels worth $37.3 million from January through October 2020, Trend reports with reference to the statistical bulletin of the Azerbaijani State Customs Committee.

The growth of import of ships, boats, and vessels from foreign countries increased by 6.2 times, the State Customs Committee said.

Azerbaijan exported ships, boats, and vessels worth $105,650 from January through October 2020.

Baku Shipbuilding Plant LLC was registered as a resident of the Garadagh Industrial Park.

The plant, which meets modern requirements, created on the basis of technologies from Finland, the Netherlands, Germany, UK, Korea, and Singapore, assembles and repairs tankers, bulk carriers and various vessels.

The State Oil Company of Azerbaijan (SOCAR) increased its stake in the Baku Shipyard from 70.21 percent to 87.47 percent in 2019.

Other shareholders of the plant are Azerbaijan Investment Company (8.95 percent) and KV Enterprises B.V. (3.58 percent, Singapore).

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Follow the author on Twitter: @Fidan_Babaeva

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