Azerbaijan Investment Company (AIC) is still studying a primary draft of a feasibility report on Caspian Shipbuilding Factory Project in Alyat settlement of Garadagh district of Baku.
AIC chief executive Anar Akhundov said that we already have certain comments on the primary version of the feasibility report submitted by South Korea’s STX.
“Work in this direction is under way. The Project presentation is planned, but many factors can have impact on its terms. Besides comments, they can be influenced by presidential elections in South Korea and some other factors. The presentation will be conducted at the high-ranking level. The presentation ceremony will be attended by STX top management representatives. Terms are still under coordination,” Akhundov said.
Earlier the Project presentation was scheduled for late 2007.
The feasibility report will be corrected depending on Factory location and condition of the bottom in this site. The Factory will be able to produce whole range of vessels – from yachts to large tankers.
STX also keeps its plans to draw AIC as one of the Project investors. The Memorandum on Caspian Shipbuilding Factory Project was singed in Seoul on April 24.
Under the Memorandum, AIC is ready to acquire a 25% stake in the Project. The Factory will be oriented to repair ships including tankers to transport Kazakh and Turkmen oil. That will be a single factory in Azerbaijan but its capacity will depend on portfolio of orders.
AIC chief executive Anar Akhundov said that we already have certain comments on the primary version of the feasibility report submitted by South Korea’s STX.
“Work in this direction is under way. The Project presentation is planned, but many factors can have impact on its terms. Besides comments, they can be influenced by presidential elections in South Korea and some other factors. The presentation will be conducted at the high-ranking level. The presentation ceremony will be attended by STX top management representatives. Terms are still under coordination,” Akhundov said.
Earlier the Project presentation was scheduled for late 2007.
The feasibility report will be corrected depending on Factory location and condition of the bottom in this site. The Factory will be able to produce whole range of vessels – from yachts to large tankers.
STX also keeps its plans to draw AIC as one of the Project investors. The Memorandum on Caspian Shipbuilding Factory Project was singed in Seoul on April 24.
Under the Memorandum, AIC is ready to acquire a 25% stake in the Project. The Factory will be oriented to repair ships including tankers to transport Kazakh and Turkmen oil. That will be a single factory in Azerbaijan but its capacity will depend on portfolio of orders.