Baku, Azerbaijan, Jan.4
By Leman Zeynalova – Trend:
The liquidation of Caspian Shipyard Company by its main shareholder Keppel of Singapore will not affect the operation of Baku Shipyard where Keppel also holds a share, a source in Baku Shipyard told Trend.
The source noted that he doesn’t know the reasons of liquidation of Caspian Shipyard by Keppel.
“Baku Shipyard is absolutely different joint venture and continuing its operation without any changes,” added the source.
Baku Shipyard LLC is a joint venture of Azerbaijan’s state oil company SOCAR, Azerbaijan Investment Company (AIC) and Keppel Offshore & Marine Ltd., inaugurated by Azerbaijan’s President Ilham Aliyev in September 2013.
Keppel holds 10 percent share in the plant and is fully responsible for its management and operation. The largest shareholder of the enterprise with 65 percent share is SOCAR, as well as AIC, which owns a quarter of the shares of the plant.
Main activity of the Baku Shipyard consists of the construction of a variety of vessels ranging from offshore support vessels, general cargo vessels, tug boats, crane vessels, specialized vessels and passengers vessels to tankers. Baku Shipyard also undertakes ship repair and conversion of such vessels.
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