According to APA-Economics, President of Azerbaijan Ilham Aliyev also attended the ceremony.
The plant was founded by President Ilham Aliyev on March 19, 2010 and will operate on building, repair of nay types of ships and general marine engineering.
President of the State Oil Company of Azerbaijan Rovnag Abdullayev informed about the function of the enterprise. He noted that to carry out construction and operation works, SOCAR, Azerbaijan Investment Company and Singapore’s Keppel Offshore & Marine have established Baku Shipbuilding Plant LLC joint venture. According to agreement signed between the founders on December 10, 2010, SOCAR’s equity in the plant’s authorized capital makes 65%, AIC – 25% and Keppel – 10%.
The plant was supplied with the most contemporary equipments produced in Finland, Netherlands, Germany, Czech Republic, Great Britain, South Korea and Singapore.
President Ilham Aliyev pressed a start button to launch the facility. It was noted that the annual production capacity of the plant is 25,000 tonnes of metal construction. In parallel with the construction of the plant, a floating dry dock was built in the Caspian Sea. At the second stage of the construction project, more new dock, extra production enterprise are planned to be constructed.
For the first time, the plant will have 1,250 employees. In the future, they will be increased to 2,000.
Head of the state made speech at the ceremony. Thereafter, Lee Yi Shyan, Singapore’s Senior Minister of State, Ministry of Trade and Industry made speech.
Thereafter, Azerbaijani president joined the naming ceremony of dry dock.