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Azerbaijan State Caspian Sea Shipping Company expects lower cost of Azerbaijani marine vessels |
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Tuesday, 09 March 2010 |
 Chief of the Company Aydin Bashirov said that at first price of vessels, manufactured in Azerbaijan, will be the same as upon purchasing foreign ones.
“However, situation will change when serial production of vessels to be
started. The first ship of series will be always more expensive and the
third and fourth ones – cheaper,” A. Bashirov said.
From 2010, the Company refused to import vessels, expecting start of
production in the country, because practical implementation of
protocol of intentions on construction of single shipbuilding yard in
Azerbaijan, which was signed in Baku between President of the State Oil
Company of Azerbaijan (SOCAR) Rovnag Abdullayev, Executive Director of
Azerbaijan Investment Company (AIC) Afghan Isayev and Executive Director
of Singapore’s Keppel Offshore & Marine Toing Choyng Hong on 20
November 2009.
The Keppel Offshore acquired a 10% stake in the project upon expiration
fixed 90-day period.
As the result, Keppel, the contractor of the construction and managing
company, owns 10%, SOCAR 65%, and AIC up to 25%. Preliminarily the
factory construction project to last 2.5-3 years is evaluated at
$300-350 million. 30% of investments are to be made by companies
themselves and 70% will be raised.
The new enterprise will be constructed north-east of the SOCAR’s Baku
Deepwater Jackets Factory named after Heydar Aliyev. The shipbuilding
factory will manufacture various types of vessels, including tankers
with deadweight of up to 60,000 tons to the order of SOCAR, Azerbaijan
State Caspian Shipping, State Border Service, Ministry of Defense of
Azerbaijan and orders of other countries.
According to SOCAR, there is demand for production of 110 vessels during
20 years, but the new enterprise will operate depending on available
portfolio of orders.
Earlier, SOCAR wanted to construct the factory with S Korea’s STX, with
which it signed a protocol of intentions. But the Korean company changed
its offers because of the global crisis and that did not suit SOCAR and
cancelled memorandum with it.
Keppel Fells has cooperated with SOCAR during more than 12 years.
Source: Abc.az
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