Azerbaijan, Baku, November 3 / Trend, E. Ismailov /
Studies carried out by the Azerbaijani Transport Ministry revealed that it is necessary to build around 100 underground parking lots in Baku, Sadraddin Mamedov, Head of the Transport Ministry's Transport Policy and Economy Division, told reporters on Thursday.
"Currently, there are four underground parking lots under construction in Baku; particularly, one of them is being built by the Baku Executive Power at a site opposite the Government House," Mamedov said.
He said there will be carried out works to initiate construction of another 10-15 underground parking lots next year.
"It is essential to build parking lots to relief traffic at the capital's roads and prevent parking at road borders, particularly, at prohibited places," the Ministerial official said.
As reported earlier, large parking lots will be opened at the city's all entrances: near to subway station Meshedi Azizbekov, Baku Bus Station, Azneft Square, Zykh side entrance, and subway station Halglar Dostlugu.
Surface and underground parking lots have been under construction since 2011 and their value will be estimated depending on design.
The projects of construction of parking lots may have different sources of financing, including state budget assets, loans by international financial organizations such as the World Bank and the Asian Development Bank, and private sector's money.
Currently, there is drafted a Baku urban transport development investment program, under which the Asian Development Bank (ADB) plans to assign a loan of $300 million. The ADB will be prepared to disburse the first tranche of the loan in 2013.