TODAY.AZ / Business

Azerbaijan to yield dividends from Kuryk port

31 May 2016 [14:23] - TODAY.AZ

/By Azernews/

By Nigar Abbasova

A ferry complex being constructed in the port of Kuryk in the Caspian Sea is expected to allow transporting goods to neighboring countries without unloading cars and is focused on handling wide range of goods.

Rakhman Alshanovm, the rector of Kazakstan Turan University, scientist and Doctor of Economics, in his interview with Day.az said transit trade from the realization of the new ferry complex project will yield dividends to Azerbaijan. He underlined that the country will get huge advantages as under the conditions of world trade expansion, transit trade accounts to 1/3 of the world economy.

“In the first stage, 360,000 tons of freight per year is expected to be transported from Azerbaijan. The volume of Kazakhstan freight will increase in the future and this will lead to the additional flow of funds to Azerbaijan,” he added.

Azerbaijan is expected to supply about 82,000 tons of freight to Kazakhstan through Kuryk with 32,000 tons being electric equipment, 30,000 tons of consumer goods, 10,000 tons of vehicles and devices.

The new ferry terminal is expected to allow Kazakhstan to export oil, polyethylene, iron ore and concentrates to world markets through Baku, Azerbaijan. As many as 16 buildings and facilities are planned to be established in the territory of the complex.

Energy-rich Kazakhstan is also considering the issue of the oil terminal construction in the Kuryk port. Nevertheless, timeframe for the construction of the terminal has not yet been established. Oil transportation from Kuryk port will also be implemented through the ferry complex which is currently in the process of construction.

The ferry complex which is considered to be a strategically important object is expected to be commissioned in December 2016. Works on the bank protection of the ferry complex which will provide for wash out and measures to protect the impact of sea waves are currently underway.

The main destinations of oil transportation through the Kuryk port's ferry terminal are Russia, Georgia, Ukraine, Estonia and Latvia. Potential for growth of transportation by the sea route is centered on Kuryk port (Kazakhstan) – Baku port (Azerbaijan) – Batumi port (Georgia) – Constanza port (Roumania).

The volume of cargo transshipment by the new complex is expected to reach the level of 4.1 million metric tons per year.

Currently freight transportation by ferries from Kazakhstan to the Caspian Sea littoral states is possible only through the port of Aktau. Kazakhstan plans to increase transportation which currently amounts to 18 million tons, the figure is expected to reach 33 million tons by 2020, and 50 million tons by 2030.


URL: http://www.today.az/news/business/151265.html

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