Azerbaijan May Repair Ships of Whole Caspian Region
Azerbaijan, Baku/ Trend , corr. I. Khalilova/ Riad Gasimov, the Deputy of the Executive Director of "Azerbaijan Investment Company" (AIC) JSC, has said that a feasibility study of the project on shipbuilding in Azerbaijan is expected to be completed in May-June, 2007.
Memorandum on Intentions on the on the Joint Financing of the Project of Ship-Building in Azerbaijan was signed between AIC and South Korea's Holding - STS in Seoul on April, 24.
Notably that the feasibility study on the mentioned project is being prepared by the affiliated company -STS.
The South Korean Holding will come out the major shareholder. AIC is expected to acquire 25% of the stake in the forthcoming enterprise.
According to Mr. Gasimov, the forthcoming Shipyard will be a complementary segment to the project on construction of a new oil terminal in Garadagh District of Azerbaijan.
" Kazakhstan oil is mainly expected to be carried via this terminal for the further transit via the BTC (Baku-Tbilisi-Ceyhan) Pipeline", said the Deputy of the Executive Director of AIC. Oil tankers belong to Kazakhstan may also be repaired in the Shipyards in Azerbaijan, like other vessels of the whole Caspian region.
"Nexand Company of U. S. is expected to appraise the project on construction of the new oil terminal, its perspectives and efficiency by the midst of May, 2007", said Mr. Gasimov.
The construction of the forthcoming terminal is preliminary estimated at $90 mln.