The foundation of a new shipyard was laid in 2010 in Baku with participation of Ilham Aliyev, President of the Republic of Azerbaijan with a view to ensure leading position of Azerbaijan, which has a great streamship line traditions and fleet consisting of ships of various designation, in Caspian Sea, to provide normal operation of fleets in conditions of difficult competition and replacement of existing old worn-out ships with those provided with modern equipment and new technologies.
“Baku Shipyard” LLC Joint Enterprise was established for construction of shipyard with condition of sharing 65% of State Oil Company of Azerbaijan Republic, 25% of Azerbaijan Investment Company and 10% of Singaporean “Keppel” company. “Keppel” company, which is one of well-known companies dealing with contruction and repair of ships and floating vessels, has been appointed as operator of the Project.
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Engineering and projection works of new shipyard has been carried out by British “Royal Haskoning” company and tender was held on the basis of that project. Main equipment of the shipyard was selected and technical and commercial negotiations with manufacturing companies were completed.
After putting of new shipyard into operation, it will be possible to construct and repair any type of ships required (tanker, dry cargo ship, tugboat, passenger ship, crane vessel, etc.) herein.