Azerbaijan, Baku, Oct. 8 /Trend, E.Ismayilov, A.Akhundov/
The Korean Ultra Construction & Engineering Company intends to participate in the tender announced by Azeryolservis JSC of the Transport Ministry of Azerbaijan on the construction of two sections of Masalli-Astara highway, company's CEO Hyun-Jong Kang told Trend on Friday in Baku.
"Azerbaijani Transport Ministry's Azeryolservis announced a tender with deadline on Oct. 22 and we intend to attend the tender," CEO said.
The tender covers the construction of the highway's "B" site (two-lane road with a length of 22.85 kilometers, two road junctions, 11 bridges, drainage systems) and its "C" road (two-lane road with a length of 16.4 kilometers, fly-over junctions, seven bridges and drainage systems).
Earlier, the Asian Development Bank (ADB) extended the terms of a loan to Azerbaijan to reconstruct the Masalli-Astara Highway this week. The loan will be extended until Dec. 31, 2013. Since the loan agreement entered into force in January 2008, the loan resources have remained nearly unused. Earlier the loan period was set to expire June 30.
The road will be constructed using the $200-million ADB loan. The government's participant share is $49 million.
Credit for the highway was allocated within the Multitranche Financing Facility Mechanism with a sum total of $500 million to finance three road projects. Two projects worth $255.4 million have been coordinated. The bank has provided up to 2014 to use the remaining funds.