BAKU, Azerbaijan, December 15
By Amina Nazarli - Trend:
The Marine Merchant Fleet Project in Turkmenistan is expected to get a $45 million loan from the OPEC Fund for International Development, Trend reported referring to Business Turkmenistan.
The financing will be allocated from the $352 million approved as part of the Fund’s sustainable development operations across the world during the 178th Session of the Governing Board.
The Marine project will include the construction of three new vessels for rail, passenger, and dry cargo. Once operational the new ships will increase the utilization of the Turkmenbashi seaport on the Caspian Sea, part of the Europe-Caucasus-Asia transport corridor and one of the largest ports in the country.
The project will also provide technology transfer by training the shipyard's staff in shipbuilding and repair. Along with increasing trade and economic activity, the project will create job opportunities, particularly for recent graduates.