Azerbaijan`s President lays foundation stone for shipyard
Mon, March 22 2010 17:30 | 239 Views
A Memorandum of Understanding was signed in Baku last November by Azerbaijan`s State Oil Company (SOCAR), Azerbaijan Investment Company (AIC) and Singapore's Keppel Offshore & Marine, one of the largest offshore and marine groups in the world.
Under the Memorandum, 65 per cent of the shares in the facility belong to SOCAR, 25 per cent to AIC and 10 per cent to Keppel Offshore & Marine. The construction, estimated to cost between US$300 and $350 million, is scheduled to be completed in three years.
Source:
Business in Asia Today - March.22, 2010
published by Asia Pulse
Editor: Ricka
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