Azerbaijan to build its own vessels

Construction of vessels at Azerbaijan's new shipyard will contribute to the development of freight transportation and the country's transit potential, Azerbaijani State Maritime Administration's Chief Gudrat Gurbanov said on June 25.

He said various types of vessels will be built at the new shipyard, thus meeting Azerbaijani demands in ships fully.

"This, in turn, will significantly contribute to the freight transportation, and as a whole, to the development of the transit potential," Gurbanov said.

Gurbanov added that an important role in the transhipment of transit goods will belong to the ferry terminal to be commissioned soon as part of the construction of a new international sea trade port in Alat settlement.

Baku Shipyard LLC is a joint venture of SOCAR, Azerbaijan Investment Company (AIC) and Keppel Offshore & Marine. It was opened by Azerbaijani President Ilham Aliyev in September 2013.

Keppel owns some 10 percent share of the shipyard and is fully responsible for its management and operation. The largest shareholders are SOCAR with 65 percent share and AIC, which owns a quarter of the enterprise's shares.

Bakudaily.az