Baku Shipyard LLC joint venture was founded on May 10, 2011 by SOCAR owning 65%, Azerbaijan Investment Company (AIC) 25%, and Keppel Offshore Marine (KOM) 10%. Main activity of the Baku Shipyard consists of the construction of a variety of vessels ranging from offshore support vessels, general cargo vessels, tug boats, crane vessels, specialized vessels and passengers vessels to tankers. The yard also undertakes ship repair and conversion of such vessels. Currently Baku Shipyard LLC employs about 700 local workers and forecast workforce is about 1500 additional staff when the company will work at full capacity.