Azerbaijan Caspian Shipping Company and the Marine Engineering Bureau of Odessa signed an agreement on establishment of a joint venture.

According to the Caspian Shipping Company, the agreement on the Caspian Marine Engineering Bureau was signed by Shipping Company’s chairman Rauf Valiyev and Odessa Bureau’s director Gennady Egorov.

"The new JV will become the center of modern engineering in the field of maritime transport, and is a very important step for the Caspian Shipping," Veliyev stressed.

"Caspian Marine Engineering Bureau" will deal with development work, including design of ships, preparation of technical documentation for repairs, upgrades and maintenance.