European Bank to Finance re-Location of Cargo Terminal from Baku Sea Port
Azerbaijan, Baku / Trend corr. I. Khalilova / The European Bank for Reconstruction and Development (EBRD) has proposed Azerbaijani Government to finance the re-location of cargo terminal from Baku Sea Port, a source at the Azerbaijani Ministry of Economic Development has reported.
The matter was discussed during the visit of the Azerbaijani Economic Development Minister, Heydar Babayev, to the annual meeting of the EBRD managers held in Kazan, Russia in May. The intentions were reflected in the protocol signed during the meeting.
At present the Azerbaijani Transport Ministry is developing a project on construction of a new international trade port, taking part in which has already been proposed to the Japan Bank of International Cooperation.
The government is considering several versions of construction. A new international trade port is planned to be built in Garadag region. A small dry cargo port will be built in Zykh. It will have 3-4 berths for unloading of ships with ecologically pure cargos, such as foodstuff.
The EBRD is also interested in financing the construction of the port. The bank has plans to develop its own project on construction of the international port, as well as its location. Talks on re-location of the port to Hovsany region were held with the EBRD several years ago. The bank was ready to allot some $50mln. However, the talks did not meet with success.