Keppel Offshore & Marine will be building and operating a major shipyard for the construction and repair of civilian and naval ships on the shore of the Caspian, a first in the region. The shipyard itself will be 90% owned by the state oil company and the state investment company. Keppel had been in partnership with the state oil company, SOCAR, for many years and enjoys a relationship of mutual trust. The groundbreaking ceremony on Friday was officiated by President Ilham Aliev on the eve of the Nowruz holiday.
Nowruz is a pre-Islamic festival, coinciding with the spring equinox, celebrated by Azerbaijanis, Iranians, Ba'hais, Kurds, Turks, Kazakhs and others. For Azerbaijanis and Iranians, it is also a fire festival symbolising the burning away of bad things and the absorption of the good.
I came to Azerbaijan on a bilateral visit and to attend the shipyard's groundbreaking ceremony. It is the first visit by a Singapore minister. Just last week, I hosted lunch for the first visit of an Azerbaijan minister to Singapore, Kamaluddin Heydarov, who is responsible for emergency situations. I called on President Aliev who speaks fluent English. I also had a very good meeting with the Foreign Minister, Elmar Mamadeyarov.
Baku, the capital city, is a modern city experiencing a construction boom fueled by oil and gas. In the last 6 years, the GDP of Azerbaijan tripled.
Last year, despite the global economic crisis, the country grew at 9.3%, perhaps the highest growth rate of any country in the world.
The Azerbaijanis showed considerable interest in greater cooperation with Singapore. There are many opportunities for greater cooperation.
President Aliev indicated that he would like to send students to our universities. Globalisation has opened a new chapter in our bilateral relationship..
Laying of wreaths at the Alley of Honours and the Alley of Martyrs
Call on President Ilham Aliyev
Groundbreaking ceremony of SOCAR-Keppel shipyard
Meeting with FM Elmar Mammadyarov
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