Turkmenistan, Ashgabat, May 7 / Trend, H. Hasanov /
President of Turkmenistan Gurbanguly Berdimuhammadov at a government meeting, 'expressed dissatisfaction with the slow pace of fulfilment of the master plan of the development of the Turkmenbashi international seaport and national merchant fleet due to be completed by 2020', the Turkmen government said on Monday.
'The Turkmen leader ordered that immediate measures are taken to eliminate deficiencies and accelerate the pace of work on construction of facilities under the plan and reconstruction of the sea port designed to become a major transit hub in the region', media outlets reported.
The country is preparing for the large scale reconstruction of the Turkmenbashi sea port which has international status and experience of free economic zones in the UAE, Singapore and Hong Kong are being studied.
Dozens of foreign companies expressed their desire to participate in the modernisation of the harbour in the city of Turkmenbashi. This expensive project became of interest to the European Bank for Reconstruction and Development (EBRD) and the Japan International Cooperation Agency. The International Bank for Reconstruction and Development (IBRD) has already signed a memorandum of understanding with the government on the modernisation of the port city of Turkmenbashi on the Caspian Sea.
According to experts, a large scale reconstruction of the sea port in Turkmenbashi will require several billion dollars.
Among the priorities are the construction of new marine terminals with multi-purpose berths able to accommodate vessels of any type and capacity and accordingly stores for processing and storage of goods in transit and the execution of export-import operations equipped with powerful loading and unloading equipment.
Sea transportation is becoming increasingly important in the country's foreign and economic relations. The volume of cargo handled at the berths of the Caspian harbour through which the country receives industrial and agricultural equipment, automotive equipment, metal products, wood products and mineral fertilisers are sent abroad. The demand for polypropylene, coke and other petroleum products from the chemical and construction industry is also growing.