Investments in Azerbaijani transport sector to exceed 2.7 billion manat in 2012

Business Materials 14 October 2011 10:36 (UTC +04:00)

Azerbaijan, Baku, Oct.14 / Trend, E. Ismayilov /

The volume of investments in 2012 in Azerbaijan's transport sector is forecasted at 2.766.6 billion manat, a draft state investment program for 2012 published on the Azerbaijani Finance Ministry's official website said on Wednesday.

According to forecasts, 2.040.6 billion manat public funds are planned to be directed at the development of transport sector from the total volume of investments in 2012, the remaining 726 million manat will be ensured through foreign loans.

In particular, the investments are envisaged for the implementation of such major projects as the construction of the new Baku International Sea Port, a project to support rail transport and trade, establishing Intellectual transport Management System in Baku.

Also part of the funds will be disbursed within projects of reconstruction and construction of highways, both republican and local highways, the construction of bridges and pedestrian crossings.

The transport sector in Azerbaijan is one of the largest in terms of attracting investment and foreign loans.