Petlim will operate at full capacity from 2020 - UPDATED

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Izmir. 8 September. REPORT.AZ/ Petlim will operate at its full capacity from 2020.

Report informs, General Manager of Petlim Container Port project Doğan Çırakoğlu said at a meeting with Azerbaijani reporters, who are on a visit to Izmir.

According to him, in 2019, capacity of the terminal is expected to be 500-600 000 TEU: 'In 2020s, the port will operate in the projected capacity - annual 1.5 mln TEU'.

Speaking about the works, carried out within the project, General Manager said that the 1st phase has been completed in 2015 and reminded that 'Maersk' group handed over to the management of 'APM Terminals' company: 'Probably, 'APM Terminals' will start commercial activity in late September and early October'. He noted that currently, 60% of the construction works on the 2nd phase have been completed. D.Çırakoğlu added that the second phase will end in the last quarter of 2016 and launch in the second quarter of 2017. 

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'A large part of the works on total project have been carried out in the 1st phase. Implementation of the 1st phase means completion of 70% works. Currently, totally, 80% of the works on Petlim project completed', project head said.

Notably, while in a project stage, a contract has been signed with 'APM Terminals', company of the world's most successful and largest group 'Maersk' in management of container terminal, for operation of the plant during 28 years after the completion of the project. According to the revenue sharing agreement, Petkim will also get share from the revenues. During construction phase of the port, one of the world's largest investment banks Goldman Sachs International has determined the project's cost at 1 bln USD and it will be Petlim partner paying 300 mln USD for 30%.

Totally, with an area of 55 hectares, the port will be the largest container port in the Aegean Sea. Over 11 000 largest container ships of the world may come up to the port. Therefore, the water depth made 16 meters and 700 meters long harbor coastline built. The initial cargo capacity was 1.5 mln containers, and the figure can be increased to 2.5 mln containers. The port will have dry cargo capacity of 10 mln tons.