A feasibility report for the construction of a new marine trading port in Alat, southwest of Baku, has been completed and will be among the larger projects to be presented Oct. 12 at the First TRACECA Investment Forum in Brussels. TRACECA stands for Transport Corridor Europe, Caucasus, Asia, a program by the European Union, which has already signaled support of a logistical center at the site. Unclear is how much the Azerbaijan government is willing to contribute, and how much in private investment will need to be found, Akif Mustafayev, the national secretary of TRACECA, said according to ABC.az.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
