Azetrbaijan, Baku, 6 February /corr. Trend I.Khalilova / The delays with realization of the project on construction of a new shipbuilding plant- has resulted from the delays in signing an agreement with the Korean STX ,due to the uncertainty of its participation share in the project, said Azerbaijan's Minister of Economic Development, Heydar Babayev, at a press-conference on 6 February.
"The company envisages joining the project with 25% participation share, but we are willing to increase its share. If case of keeping 25% participation share, we suggested the Company to participate in the management of the project and the company agreed. The discussions have not completed yet," the Minister said. The other participants of the project may be the State Oil Company of Azerbaijan, Azerbaijan Investment Company and Azerbaijan State Caspian Shipping Company.
The key customers of the tankers that will be produced in the enterprise may be the State Oil Company of Azerbaijan, Azerbaijan State Caspian Shipping Company and Kazakhstan -who has plans to export its oil to the world markets through Caspian via the territory of Azerbaijan. The approximate cost of the project is $400mln. The company will build all kinds of vessels necessary for Azerbaijan, including dry cargo, tankers and passenger ships. The plant is planned to be created on the basis of four shipyards in the Country
