First phase of construction of Petlim port will be completed next month

Baku. 10 September. REPORT.AZ/ First phase of construction of the container port Petlim, which is carried out by a subsidiary of the State Oil Company of Azerbaijan Republic (SOCAR) - SOCAR Turkey, will be completed on October 20. Report informs referring to SOCAR Turkey.

Container port Petlim scheduled to receive water craft since January 2016. This will be the third largest port in Turkey and the largest in the Aegean Sea, the port will be able to enter the biggest container ships, carrying more than 11 thousand containers.

The total investment cost of Petlim project amounts to 400 million USD, of which 300 mln USD funded by PetkimHolding.The share of the investment bank Goldman Sachs in this project is 30%.Port Management will be implemented by APM Terminals that has a 28 years of experience in this field, which according to the promoters' agreement will have income shares in Petkim.