The first stage of a seaport in Alat should be commissioned by June 2014. Immediately after this work should begin the relocation of the current port and settlement of its territory , President Ilham Aliyev said on 23 December at the conference following the implementation of the State Program of socio- economic development of Baku and its settlements.
In November of this year, Deputy Transport Minister Musa Panahov told reporters said that the construction of a new ferry terminal at the port will end in 2014, without specifying the specific time frame.
With the commissioning of the first phase of the port the ferry service will be transferred to the new terminal . This will be followed by the construction of a dry cargo terminal . Ilham Aliyev said that the construction of the Baku-Tbilisi-Kars railway will be completed in late 2014, and so the construction of the new seaport should be accelerated.
The construction of the new Baku Sea Trade Port in the Alat settlement is ordered by the Ministry of Transport. It evaluates the investment in the construction of the new port in three phases as 870 million manat, including the first phase - 540 million manat.
The port covers an area of ??400 hectares. Of these, 100 hectares are allotted to the International Logistics Centre (at the first phase - 50 ha). At the first phase the capacity of the port will be 10 million tons and 40 thousand containers per year. By the third stage the capacity will become 25 million tons of cargo and 1 million containers.
The potential turnover of the existing port reaches up to 15 million tons of liquid bulk and up to 10 million tons of dry cargoes.
Economics
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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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