President of Azerbaijan Ilham Aliyev laid the foundation stone for Baku Shipyard on 19 March 2010 and joint venture was founded on May 10, 2011 under the laws of Republic of Azerbaijan, by the State Oil Company of Azerbaijan (SOCAR), Azerbaijan Investment Company (AIC), and Keppel Offshore Marine (KOM), has developed and put into operation the most modern shipbuilding and ship-repair facility in the Caspian Sea. On 20 September 2013 Baku Shipyard officiated inauguration.
Main activity of the Baku Shipyard consists of the construction of a variety of vessels ranging from offshore support vessels, general cargo vessels, tug boats, crane vessels, specialized vessels and passengers vessels to tankers. The yard also undertakes ship repair and conversion of such vessels.
President Ilham Aliyev attended the groundbreaking ceremony
A groundbreaking ceremony of a shipyard plant, conforming to the modern standards and planned to be built next to the Baku Deep Water Jackets Plant named after Heydar Aliyev, took place. President Ilham Aliyev attended the ceremony. The model of the plant was designed to be capable of producing 25.000 tons of metal constructions, 4 tankers with a capacity of 15.000 tons (or “Caspian Max” type 2 tankers with a capacity of 60.000-70.000 tons), AHTS or PSV vessels, and repairing 80-100 various type ships.
Memorandum of Understanding was signed between State Oil Company of Azerbaijan Republic, Azerbaijan Investment Company, and Singapore’s “Keppel Offshore & Marine” company on construction and exploitation of the plant. The construction of the plant was completed in 3.5 years.
President Ilham Aliyev attended the opening ceremony of the Baku Shipyard
On September 20 2013, the President Ilham Aliyev attended the opening ceremony of the Baku Shipyard. The construction of the Baku Shipyard, which play an important part in strengthening the economic and industrial potential of Azerbaijan, has been one of the major infrastructure projects implemented in the country. The plant carry out construction, repair of all types of vessels and general marine engineering services.