Turkmenistan Launches $2B Seaport, Tourist Project

Law360, New York (August 15, 2013, 5:23 PM EDT) -- Turkmenistan officials on Thursday announced they have kicked off a massive project to build a new high-tech international seaport for shipping oil, gas and other exports, as well as a hotel and retail development that together will reportedly cost $2 billion.

The massive project calls for a 1.2 million square meter (12.9 million square foot) terminal that will welcome ferries, passenger ship and cargo vessels, according to a translated document from the State News Agency of Turkmenistan. Around the new port, officials also plan to build...
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