These funds will be obtained from various sources, he said.
These are the funds from the Azerbaijani government, international financial institutions, potential participants from the private sector and the funds received within the European Neighborhood Policy, Hololei added.
The project implementation will strengthen communications, increase competitiveness and contribute to the emergence of the most modern sea port in the region, he said.
Azerbaijan intends to fully use its transit potential in the region, Hololei added.
More about: Alat-sea-port