TODAY.AZ / Business

General agreement signed on shipyard construction in Azerbaijan - UPDATED

20 May 2008 [09:30] - TODAY.AZ
A general agreement on construction of a shipyard in Azerbaijan (Qaradagh settlement of Baku) was signed in Baku yesterday.
20.05.08

10:30

According to the press service for the State Oil Company of Azerbaijan, construction of this enterprise will be carried out on a free space of the Baku Deep-water Jackets Factory.

65% of the plant will belong to the State Oil Company, 10%  to the Azerbaijan Investment Company and 25% to STX Shipbuilding Co. Ltd.

An independent group of experts for preparation of the feasibility study and business-plan of the project will be selected in June of this year. In late August the group will complete the report. The document will fix technical parameters of the plant (producing capacity, application of new technologies and others) and necessary amount of investments.

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19.05.08

18:26

Day.Az reports with reference to the Azerbaijan Investment Company that the agreement was signed between the State Oil Company (SOCAR), AIC and Korean STX Shipbuilding Co.,Ltd.

The document envisions creation of a joint venture, in which the AIC share will make 10%. Moreover, the agreement included regulations about preparation of a feasibility study of the plant, application of new shipbuilding technologies, raising additional financial means, etc.

/Day.Az/
URL: http://www.today.az/news/business/45099.html

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