Turkish Company Nears Euro 2.5 Billion Port and Shipbuilding Contract in Turkmenistan

Turkish company Som Petrol is about to get a Euro 2.5 billion project in Turkmenistan for reconstruction of port facilities and supply of ships and tankers and related facilities.

A delegation of Som Petrol, including its president Sitki Aiyan and vice president Erdal Aktunch (both names spelled phonetically), had a meeting Tuesday with President Berdymuhamedov to submit their final proposal. Submission of preliminary proposal and signing of initial bilateral documents had already taken place on 20 October 2007.

It was clear from Berdymuhamedov’s remarks yesterday that Som would get the contract. “We are interested in these kind of approaches to interaction where an integrated solution is offered for both technical and organizational questions,” he said.

The project is wide in scope, encompassing modernization and expansion of Turkmenbashy, the major Caspian port of Turkmenistan, construction and commissioning of dry cargo vessels and petroleum tankers and implementation of the integrated concept of handling and warehousing facilities in compliance with ISO specifications.

The project, a vital component in the North-South trade and transportation corridor plans, would require about 15000 specialists and skilled person in such diverse fields as construction, shipbuilding, banking, insurance, arbitrage, intra-region and international law, brokerage, liquid and dry cargo management and coordination.

It is likely that Turkmenistan, together with project participants, would establish an institution for specialized education to prepare manpower for the project.

Som Petrol A.S. Company is registered in Istanbul.

It has permanent presence in Turkmenistan since 1997.

Som is the largest exporter of Turkmen petroleum products to European and world markets. During the last ten years Som has exported more than 10 million tons of oil and petroleum products. It has also carried more than two million tons of oil from Ekerem point to Turkmenbashy refinery.

Since 2004, Som has invested in some civil engineering designs, modernization andn reconstruction work at the Turkmenbashy refinery.

Som has significan presence in Angola, Yemen and Iran.

It is engaged in railway activity and operations at the oil terminals in Kazakhstan.

Som tankers ply in Black Sea and in the Russian river systems.

Source:RamblerNews