Petlim receives first trading ship

Baku, December 7 AZERTAC Petlim container port, built by the State Oil Company of Azerbaijan Republic (SOCAR) in the territory of Petkim peninsula, Izmir (Turkey), has received the first ship. The 28-year exploitation agreement with APM Terminals company included in most successful and biggest group of the world in container terminal management ‘Maersk’ group was signed in projecting stage. Income sharing agreement envisages interest for ‘Petkim’. SOCAR owns a 70 per cent share in the port, while Goldman Sachs has the rest 30 per cent stake. The port is considered a biggest port of Aegean Sea. Coast port with 700-meter length and 16-meter depth has been constructed to allow access for more than 11 thousand huge container vessels. The port will have 10 million tons of ground freight shipping capacity.