Azerbaijan Caspian Shipping Company announces new investments in fleet

Azerbaijan Caspian Shipping Company (ACSC) has announced a medium-term investment program. Company’s chairman Rauf Veliyev has stated that investments in fleet expansion will reach $300 million.

"Over the past 3 years of ACSC activity the Company’s fleets has included 17 vessels with total value of $155 million," Veliyev said, abc.az reports.

He added that the investments were made within the five-year program. "The Baku shipyard is fabricating currently four vessels for ACSC with total cost of $110 million," Veliyev emphasized.

He points out that 11 vessels of the shipping company are sailing out of the Caspian.