European Commission's Hololei talks investments in construction of Alat sea port

20 February 2019 11:47 (UTC+04:00)

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The investments worth 2.8 billion euros will be spent to complete the construction of five logistics centers, including the sea trade port in Azerbaijan’s Alat, Director-General for Mobility and Transport (MOVE) of the European Commission Henrik Hololei said at a briefing Feb. 19, Trend reports.

These funds will be obtained from various sources, he said.

These are the funds from the Azerbaijani government, international financial institutions, potential participants from the private sector and the funds received within the European Neighborhood Policy, Hololei added.

The project implementation will strengthen communications, increase competitiveness and contribute to the emergence of the most modern sea port in the region, he said.

Azerbaijan intends to fully use its transit potential in the region, Hololei added.

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