Azerbaijan, Baku, March 11 / Trend , E.Ismayilov/
Transport Ministry of Azerbaijan and the Embassy of the Republic of Korea in Azerbaijan signed a grant agreement within preparation of a feasibility study for construction of a bridge over Baku Bay.
$1.5 million grant will be allocated by the Korea International Cooperation Agency (KOICA).
Feasibility study and its presentation will be prepared by the Korean side within the next two years. Over the next two months, Korean experts will arrive in Azerbaijan to start research on the project.
The purpose of the project to build a bridge across the bay is to improve the transport infrastructure in Baku, increase the experience of Azerbaijani specialists at the expense of Korea's experience in the construction of marine bridges and roads.
According to preliminary estimates, the cost of building a bridge across the bay will exceed $1 billion.