Azerbaijan, Baku / Trend corr I. Khalilova / The South Korean Company of GS Engineering & Construction will hold a presentation to promote its project on constructing a new international trade port in the Alat settlement in Baku within the first ten days of September, the head of the Transport Policy & Economic Department of the Transportation Ministry, Sadraddin Mammadov, reported on 30 August.
The trade port is currently located near Baku Boulevard.
According to initial estimations, the cost of the project comes to $400mln. Mammadov did not exclude the possibility of a change in the amount of investments for the project, which depends on the selected variant - power of trans-shipment or financing sources.
"The construction of logistic terminals within the port is inevitable, for the North-South corridor goes through Alat," he said.
Along with Korean companies, the European Bank for Reconstruction & Development and the Japan Bank for International Cooperation (JBIC) are showing interest in financing the project for constructing a new international trade port.
After the project is developed, the Government will proceed towards negotiations on further attraction of funds, Mammadov said.
The Government are considering several variants of construction. A new international trade port is planned to be built in the Garadag region and a small dry cargo port including three or four berths intended for discharge of ships with ecologically clean products such as foodstuffs is supposed to be constructed in Zykh.