Global Look Press: Artificial Island Project
Azerbaijan has adopted a law on the creation of artificial islands in the Caspian Sea in the third reading
The Azerbaijani parliament has approved a law facilitating the construction of artificial land plots in the Caspian Sea. The law, adopted in the third reading on Monday, establishes the regulatory framework for such changes.
The new law defines the procedural rules and structural requirements necessary for the creation and approval of artificial land plots in the Azerbaijani sector of the Caspian Sea. This step was taken after intensive discussions and consultations, reflecting Baku's strategic ambitions to expand usable land and profit from its coastal real estate while facing significant environmental and regulatory challenges.
During the legislative process, Ali Masimli, a member of Parliament, stressed the importance of bringing the new law into line with international standards, especially with regard to preparedness for seismic activity. He highlighted the Dutch experience in land reclamation as a potential model for Azerbaijan, advocating a comprehensive master plan for sustainable development.
Despite the enthusiasm, the bill has faced criticism, especially regarding the ongoing commercial development along existing coastal zones, which often violates national land codes and environmental regulations. This practice, combined with Azerbaijan's difficult experience in implementing past projects, such as the failed Avesta Islands in the Caspian Sea project, highlights the financial and practical risks associated with such ambitious endeavors.
The discussion of the new law reflects broader national aspirations and concerns about the environmental and economic consequences of the changing contours of the Caspian Sea. The construction of the Caspian Dream Liner Hotel on a newly built artificial island near Nardaran is already underway, which inspires cautious optimism about the potential for sustainable and profitable development.
Experts note that the success of the implementation of the idea of artificial islands will depend on a balanced approach that takes into account both environmental integrity and accessibility for the population.
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- Finance
- 7 May 2024 12:36
Economics
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