ECONOMY


2nd phase of Petlim container terminal launched

Baku, September 19, AZERTAC

The 2nd stage of Petlim container terminal, invested by the Azerbaijan’s SOCAR oil company and with storage capacity of 1.5 million TEU container has today launched.

The completed container terminal has doubled the capacity of port located near the city of Izmir, Aliaga region. The new port was built in two stages and $450 million has been spent for the construction. It includes 700 meters of linear berth, 42 hectares of container storage area, 150 meters cargo and cargo ferry. The overall construction of Petlim took 8.5 million man-hours. The 16 meters deep facility will serve vessels of 16000 TUE capacity. Total of 600 workers will be employed in the container terminal. Petlim is the third largest port in Turkey and the largest port in the Turkish part of the Aegean Sea.

SOCAR owns a 70 per cent share in the port, while Goldman Sachs has the rest 30 per cent stake.

Dutch APM Terminals will run the port for the next 28 years.

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