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Turkey Invests in Maritime Transport Corridor

by | Nov 17, 2022 | Specials

The Turkish company Albayrak has agreed to invest in the Baku International Sea Commercial Port, which is part of the route through Azerbaijan and bypasses the Russian Federation.
Turkey invests $30 million for the construction in the Baku port. A representative of the Turkish company said that the investments will concern the construction of terminals for fertilizers, Ro-Ro and general cargo. He noted that these investments are only initial.
In addition, Turkey plans to invest in other areas of Azerbaijan’s largest sea harbor, through which the international Trans-Caspian transport route passes. This route runs through China, Kazakhstan, the Caspian Sea to Azerbaijan, Georgia and further to Turkey and Europe, without the participation of the Russian side.
From China to Europe
Logistics Director of the Turkish Albayrak Group of Companies Harun Oncu told reporters: “Albayrak’s investments in the Port of Baku [Baku International Sea Trade Port] are important in terms of expanding the port’s transit capabilities. So, the joint work of Albayrak and the port will reduce waiting times, increase the efficiency of the Middle Corridor, and increase the number of ships,” he said. Also added that the Middle Corridor plays an important role in the transportation of goods from China to Europe across the countries participating in the route against the backdrop of the COVID-19 pandemic and the current geopolitical situation.
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The post Turkey Invests in Maritime Transport Corridor appeared first on Commodity Board Europe GmbH.