Petkim Liman, APM Terminals put pen to contract

Petkim Liman A.S with SOCAR`s majority ownership has signed an agreement on container port operations with the Netherland`s APM Terminals.

Chairman of the Petkim Board Vagif Aliyev told a news conference that the company`s container port is going to be one of the region`s most important ones. Under the contract, Petkim Liman AS will be responsible for infrastructure and construction works in the port while APM Terminals for equipment and installations. An investment of 300 million dollars will be spent on building the container port. Investment will be provided by foreign sources. The Dutch firm will be operating the port during 28 years.

Aliyev added SOCAR wants to create oil refinery, petrochemical, energy and logistic chain. The new facility to be located near Aliaga and Nemrut seaports of Turkish region of Egey is expected to be one of the world`s most important logistic hubs.


/AzerTAc/