Azeri government paid off purchase of new tanker

Business Materials 29 June 2006 16:38 (UTC +04:00)

Azeri government has disbursed finance for the payment of the fifth tanker with capacity of 13 thousand tones purchased from Russian ship-building plant Krasnoe Sormovo (Nizhni Novgorod) for Azerbaijan Caspian Shipping Company (CSC), a government source told Trend.

The finance amounting to $13m was allocated for the payment of tanker which will be delivered to Azerbaijan in fall. CSC appealed to the government for the financing of two tankers, but one of the tankers will be paid of by CSC. If necessary, the government may continue disbursing finance for acquisition of tankers in the future.

Next month CSC will receive the fourth tanker (Koroglu) with capacity of 13 thousand tones. The final - fifth tanker will be received in November of this year.

Within 3-year cooperation, there have been made several contracts between CSC and Russian plant totaling more than $100m. This finance has been spent on purchase of five tankers with capacity of 13 thousand tones, two tankers 8 thousand tones and one dry cargo ship.