Opening of the Baku Shipyard Garadagh took place with the participation of the President Ilham Aliyev. The shareholders of the plant are SOCAR (65%), Singapore's Keppel Offshore & Marine (10%), and Azerbaijan Investment Company (25%).
This company is the largest shipyard in the Caspian Sea. Its production capacity is 25,000 tons of steel per year, SOCAR president Rovnag Abdullayev.
The company is able to produce annually four tankers with 15,000 tonnage, or two tankers with 70,000 tonnage, four vessels to supply platforms, to repair 80-100 vessels for different purposes. Two tugs carrying capacity of 50 tons were built at the plant.
Initially, the plant will employ 1,250 people, and in the future, the number of employees can be increased up to 2000. ---06D--
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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