Azerbaijan, Baku, August 3 / Trend , E. Ismaylov /
Within the World Bank loan for the implementation of the Rail Trade and Transport Facilitation Project, next year Azerbaijan State Railway Department plans to purchase 50 new electric locomotives, chief engineer of Department Gurban Nazirov said on August 3.
"Preparation of special documentation may begin this year, and it will be possible to speak about acquisition of new locomotives next year," said Nazirov.
It will be possible to speak about producer of new electric locomotives as a result of international tender, which will be announced, said Nazirov.
Earlier, the President of Azerbaijan Ilham Aliyev approved the signing of a credit agreement with WB on Rail Trade and Transport Facilitation Project costing $673.8 million.
In March last year the World Bank approved a $450 million loan for the implementation of the project.
The credit resources will be provided in line with the international Bank for Reconstruction and Development for a period of 17 years under four years of grace period and libor+0,05%. The objectives of the Rail Trade and Transport Facilitation Project are to improve railway services in Azerbaijan, as well as the competitiveness, financial sustainability, operating and cost efficiency, and capacity of Azerbaijan Railway (ADDY) in particular along the transport corridor toward Georgia.
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