Bank Of Baku

Azerbaijan and Singapore establish Baku Shipbuilding Plant Joint Venture

Azerbaijan and Singapore establish Baku Shipbuilding Plant Joint Venture
# 13 December 2010 15:07 (UTC +04:00)
According to SOCAR, establishment contract of this plant was signed by SOCAR president Rovnag Abdullayev, AIC Director Afghan Isayev and KOM’s managing director and chief operating officer Tong Chong Heong. According to contract, SOCAR’s share in new plant will be 65%, AIC’s share – 25% and KOM’s share – 10%. At the same time, KOM can increase its share by 10% during next 3 years/.

Remind that, the sides have signed te Memorandum of Agreement in 2009.

Great Britain’s Royal Haskoning and Netherlands’ TTC Companies are engaged in projection of the plant.
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THE OPERATION IS BEING PERFORMED