Baku, Azerbaijan, May 5
By Azad Hasanli – Trend:
The Asian Development Bank (ADB) expects the feasibility study for a project to finance the North-South railway corridor and develop Azerbaijan’s railway sector to be ready no later than November, Nariman Mannapbekov, head of ADB Azerbaijan office, told reporters in Baku.
He said the contract’s terms and cost will be preliminarily revealed in the summer of 2017, but the final cost of the project will be specified after the feasibility study is prepared.
Currently, the cost of the project is approximately $200 million. After the feasibility study, the project’s cost may increase or decrease.
The ADB will review the project Aug. 25. It is not known yet when the bank will approve the loan for the project to finance the North-South railway corridor and develop Azerbaijan’s railway sector.