Korean experts prepare to present feasibility study for Baku bay marine bridge

Business Materials 21 July 2011 18:52 (UTC +04:00)

Azerbaijan, Baku, July 21 / Trend, E. Ismayilov /

By late August, the Korean Dongsung Engineering will present the final feasibility study for the Baku bay marine bridge to the Transport Ministry and the public.

He said the company has already submitted the preliminary version of feasibility study to the Transport Ministry and held presentation to receive feedbacks from the relevant government agencies.

"After receiving feedbacks amendments and additions will be made to the feasibility study, after which by late next month the final version of the document will be submitted to the ministry, as well as public," the source said.

As the Transport Ministry's Economy and Transport Policy Department Chief Sadraddin Mammadov said, the preliminary version of the feasibility study submitted by the Korean specialists was returned to make amendments.

According to preliminary data, cost of Baku bay marine bridge would cost $1.8 billion

If approved, an international consortium will be created that will operate on the principle of building - operation - transfer, which envisages investment by the consortium in the development, design, construction and operation of the bridge.

After the new bridge will repay funds invested in it, the consortium will transfer it to Azerbaijan. Azerbaijan is not supposed to invest in this project.