The Azerbaijani government is continues preparing a project of a new Baku Sea International Trade Port in Alyat settlement, Garadagh district of Baku.
Deputy transport minister Musa Panakhov said that the project will be evaluated by the end of December.
“Under work estimate, the project is evaluated at $400 million, but now we are debating possible expansion of the port by additional modules. The issue will be clarified next week,” Panakhov said.
The project is being developed by South Korea’s GSE & Construction. It is also ready to fund the construction at its own expense and raise credit resources.
“A relevant agreement with GSE will be signed earlier next year. State participation in project financing is also expected, but its volume is still under discussion,” Panakhov said.
The presidential decree commissioned the Cabinet Ministers jointly with the Baku Executive Power and the State Property Management Committee to allot within a month a land plot in Alyat settlement for construction of the port, define and provide financial sources for design engineering and construction.
The Cabinet is to provide conformity to the decree conditions by the Ministry of Transport, the State Maritime Administration, State Caspian Shipping Company, the Baku International Sea Trade Port and other bodies, and after the new port is commissioned to transfer its territory at disposal of the State Management Property Committee.
The Ministry of Transport of Azerbaijan was appointed the project customer. The Ministry is to inform the President’s Office of the course of works.
Deputy transport minister Musa Panakhov said that the project will be evaluated by the end of December.
“Under work estimate, the project is evaluated at $400 million, but now we are debating possible expansion of the port by additional modules. The issue will be clarified next week,” Panakhov said.
The project is being developed by South Korea’s GSE & Construction. It is also ready to fund the construction at its own expense and raise credit resources.
“A relevant agreement with GSE will be signed earlier next year. State participation in project financing is also expected, but its volume is still under discussion,” Panakhov said.
The presidential decree commissioned the Cabinet Ministers jointly with the Baku Executive Power and the State Property Management Committee to allot within a month a land plot in Alyat settlement for construction of the port, define and provide financial sources for design engineering and construction.
The Cabinet is to provide conformity to the decree conditions by the Ministry of Transport, the State Maritime Administration, State Caspian Shipping Company, the Baku International Sea Trade Port and other bodies, and after the new port is commissioned to transfer its territory at disposal of the State Management Property Committee.
The Ministry of Transport of Azerbaijan was appointed the project customer. The Ministry is to inform the President’s Office of the course of works.