The Azerbaijani Ministry of Transport has preliminarily defined the place of location of a new international trade port. They have selected Alat village in this respect.
Sadraddin Mammadov, the head of the Transport Policy Department of the Transport Ministry, informed Trend that this is the most profitable place where the biggest transport junction is located. In future logistics centers can be built in Alat, since there are opportunities for expansion.
The project capacity of the port will be expanded further. The passenger transportation will be maintained in the current place, because this port meets the international standards, whereas the trade port and shipbuilding plants will be replaced, Mammadov said.
Presently, the Japanese Bank for International Cooperation (JBIC) participates in the project financing, while South Korea stated its readiness to invest into it. Earlier the European Bank for Reconstruction and Development also came out with the similar proposal. Currently the Government is collecting proposals. Afterwards the Government will define the feasibility study and finance source.
