Turkmen President orders to accelerate Caspian Sea port modernization

Turkmenistan, Ashgabat, April 17 / Trend H. Hasanov / Turkmen President Gurbanguly Berdimuhamedov has emphasized the need to accelerate the ongoing reconstruction and modernization of the Turkmenbashi sea port, intended to be largest transit hub of the international transport corridor Europe-Caucasus-Central Asia (TRACECA), the Turkmen government said today. "This will increase the freight flow of domestic goods via new international routes, the Turkmen leader said. Neutral Turkmenistan newspaper reported on Tuesday that at the other meeting, the President ordered to prepare the proposals on the technical re-equipment and national merchant fleet and submit to the government for consideration. "The Turkmen leader has emphasized the importance of dynamic development of the Turkmen navy due to the acquisition of new specialized ships, equipped with the most advanced equipment," the message said. "They will greatly expand the opportunities of the Turkmen State Service of Maritime and River Transport in international transportation." It was earlier reported that the Central Bank considers the opportunities of allocating the loan due to free funds in foreign currency to implement the projects that meet the a master plan-2020 approved to develop the Turkmenbashi international sea port and Turkmen merchant marine fleet. According to the experts, a full-scale reconstruction of the Turkmenbashi sea port will require the investments worth several billion U.S. dollars. The priorities are the construction of new offshore terminals with multi-purpose berths, capable to receive ships of any type and capacity and storehouses for processing and storage of transit goods and fulfill export-import operations, equipped with powerful loading and unloading facilities. The volumes of cargo, processed at the berths of the Caspian harbour are being increased in the Turkmen foreign economic relations. The industrial and agricultural equipment, automotive equipment, metal and wood products, mineral fertilizers are supplied to the country through the Caspian harbour. Polypropylene, coke and other petroleum products, chemicals and construction materials are delivered abroad. Dozens of foreign companies expressed their desire to take part in the modernization of the sea harbor in Turkmenbashi. The European Bank for Reconstruction and Development (EBRD), Japan International Cooperation Agency are interested in this project. The International Bank of Reconstruction and Development (IBRD) and the Turkmen government signed a Memorandum of Understanding to modernize the Caspian Sea port. Do you have any feedback? Contact our journalist at agency@trend.az