01 November 2011
A group comprising of the State Oil Company of the Azerbaijan Republic (SOCAR), Azerbaijan Investment Company (AIC) and KV Enterprises B.V have joined together to form a joint venture, Baku Shipyard LLC, for development of a new ship building yard in Azerbaijan.
Baku Shipyard LLC will be developing the new yard on a Greenfield Site adjacent to the existing SCS Deep Water Jacket Factory, approximately 24 km south of Baku City Centre. The new shipyard will be used for both construction and repair of vessels.
On 1st November 2011 ENCOTEC were awarded the contract for provision of detailed design engineering, project management and construction supervision for the Baku Shipyard project. The project is expected to be completed by the end of 2013.