Preparation of feasibility study on Baku bay marine bridge construction to be completed by summer
Azerbaijan, Baku, March 15 / Trend /
Korean experts suggested the basic concept and direction of Baku bay marine bridge construction, Korean International Cooperation Agency (KOICA) said on Tuesday.
The Chief of the transport policy and economy department of Ministry of Transport (MOT) Sadraddin Mamedov, Resident Representative of KOICA office in Azerbaijan Young-woo Kim, experts of Korea Expressway Corporation and implementing consortium consisted of Dongsung Engineering, Chungsuk Engineering and Dodam E&C attended the interim meeting on KOICA Project and discussed plans of the projects.
They also presented the construction method by private investment of BOT , BTO and BTL which is also globally used for the construction of infrastructure. The experts emphasized the financial importance of PPP (public private partnership) for the successful construction of Baku Bay Marine Bridge.
After reviewing the opinion of MOT, economic and financial analysis will be implemented during the rest of the period and the final report will be submitted to the Ministry of Transport on July of this year.
The project started on July 2010 and will continue until July 2011 with the project budget of US$1.6Million by KOICA.