Balkan Shipyard, the flagship of the Turkmen shipbuilding industry, and South Korea's Koryo Shipbuilding Industry Technology Co. (KSIT) have signed a contract for the joint construction of two dry-cargo vessels with a capacity of 6,100 tonnes, the local Orient reports.
Photo: Orient
As part of the contract, local specialists will be trained in Korean technology and the implementation of a modern quality management system. Design work will be carried out in accordance with the high safety and environmental standards of the shipbuilding industry.
Experts told Daryo that last year Turkmenistan received $135mn in loans from the Islamic Development Bank (IDB) and the International Development Fund of the Organisation of the Petroleum Exporting Countries (OPEC).
The Caspian shipyard was built in 2018 by the Turkish company Gap Inşaat. The facility has the capacity to build up to six vessels a year, including oil tankers, offshore platforms, trailers and boats.
Credits: Eziz Boyarov
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