Azerbaijan to build new shipyard

The Azerbaijan Government has announced plans for a new state-of-the-art shipyard to be located near the Heydar Aliyev Baku Deepwater Jackets Factory.

The head of Azerbaijan’s maritime administration, Gudrat Gurbanov, said that the new shipyard would boost the domestic industry. Construction is estimated to cost between US$300 million and US$250 million. Completion is scheduled for 2013.

Mr Gurbanov said that the shipyard would build vessels for export as well as for domestic use.

The contracts were signed in November 2009 between state oil company, Socar, (70 percent), the Azerbaijan Investment Company (AIC), which will have the remainder; and Singapore’s Keppel O&M which has a ten percent option holding.
 

Source: Baird Maritime