International commercial seaport of Baku forecasts decrease of cargo handling in 2007

International commercial seaport of Baku forecasts a decrease in cargo transshipment by 8.3% to 5.5 million tons in 2007, Interfax reports according to RZD-Partner. Rafail Mirgulamov, head of the port’s Commercial Department, says oil transshipment will fall 10-15% owing to a decrease in transit of Kazakhstan’s oil. In 2007, oil transshipment is to make 3-3.5 million tons, Mirgulamov says.

However, Mirgulamov does not rule out the possibility of the forecast revision depending on the governmental plans related to formation of a special economic zone in the area of Alyaty village (Baku suburb) as SEZ project implies construction of a large port complex. The issue is still under discussion at the government while negotiations with foreign investors have started already. In 2006, the port handled 6 million tons of different cargo.