Baku, Fineko/abc.az. Within the World Bank financed Rail Trade and Transport Facilitation Project  , CJSC Azerbaijan Railways (ADY) has announced expression of interest for technical supervision over upgrading of power supply and signaling systems at Baku-Boyuk Kesik (border with Georgia) railway distance.

ADY reports that expression of interest for tender on this contract is received till 5 pm on 9 April. More information is provided by Farrux Heybatov , telephone- 4996395, e-mail- office@ady-piu.org.

In spring of 2008, the WB Board of Directors approved the allocation of a $450 million loan to Azerbaijan for the entire project, which was the Bank’s largest loan since 1995, when the WB opened the financing for Azerbaijan. The loan was granted through the International Bank for Reconstruction and Development (IBRD) for 17 years with four-year grace term. The project aims at improving the quality of rail services, improving the financial condition, payment and operational efficiency and capacity of ADY. The project with budget, which in 2008 was estimated at $795 million, focuses on the development of the corridor to Georgia. Today, $450 million from the WB and 250 million euros from Czech Export Bank are not sufficient, and the project’s budget deficit is around 400-500 million euros.

27.03.2012 18:03