home . news & publications . Investment News . Azerbaijan to Build its Submarine for $400 mln

Azerbaijan to Build its Submarine for $400 mln

Minister has made a statement.

An underwater vessel worth more than $400 mln is under construction at the Baku Shipyard.

This was announced at the board meeting held in the Ministry of Economy, chaired by the Minister of Economy Shahin Mustafayev.

The Minister noted that the Baku Shipyard, which is one of the major shareholders of the Azerbaijan Investment Company, received the first order worth $40 million. The underwater vessel valued at $400 million and three passenger ships are currently under construction.

"Until now, Azerbaijan Investment Company has been involved in projects in the field of production of building materials, shipbuilding, production and processing of agricultural products, logistics and other fields, a total value of which is $1.1 bln.

$450 mln of foreign investment has been directly attracted to these projects. The advanced technology and experience of Switzerland, Germany, Singapore, Turkey and other countries were applied in these projects," Shahin Mustafayev said.

Source: News.Az

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