Azernews.Az

Azerbaijan will build a new seaport on the Caspian Sea that will have no matches in the region and lie along the route of the historical Silk Road, an east-west corridor that once connected Asia with Europe, the State Naval Administration chief Gudrat Gurbanov has said.
The port will be constructed in the Alat settlement, 60-70 km south of the capital Baku, Gurbanov told a news conference on the outcomes of 2009 on Friday.
"The project is now ready, and its groundbreaking ceremony will be held soon. This port will considerably increase the volume of cargo transported through the Silk Road."
The naval administration chief noted that a new shipyard will be built in Baku as well. Preparations have been completed to start construction work. The state energy firm SOCAR and the Azerbaijan Investment Company are expected to establish a joint venture for the purpose. The company will both place orders to the enterprise and act as a proprietor.
According to preliminary estimates, the project is estimated at around $300-350 million. Construction operations are expected to take two to two and a half years.
"The creation of the first such moden plant in the region will be of special importance for building new vessels in Azerbaijan and other Caspian littoral states, as well as repair of existing vessels – tankers, warships, coast guard ships, ferries and yachts. Opening 1,400 to 1,700 jobs is envisioned during the intitial stage of the shipyard construction," Gurbanov said.
He emphasized that 503 vessels are currently sailing under the Azerbaijani flag in the Caspian, Mediterranean and Black Seas, with the exception of small ships. These vessels have been registered by the International Maritime Organization. If Azerbaijan’s small vessels navigating in the Caspian are included as well, the number of the country’s vessels amounts to 1,127.*