Azerbaijan, Baku, Nov. 18 /Trend/
Final Meeting on KOICA (Korea International Cooperation Agency) project 'The Feasibility Study on the Baku Bay Marine Bridge Construction' was held in the Ministry of Transport of Azerbaijan, the agency reported on Friday.
On behalf of the Government of the Republic of Korea, KOICA has provided the project budget ($1.6 mln) for the implementation of the project from July 2010.
The implementing companies (Dongsung Engineering, Chungsuk Engineering and Dodam E&C) of the project prepared basic concept and direction of construction which include technical aspects such as design standards, geotechnical investigation result, route plan and travel demand on the bridge.
The company's experts presented the construction method by private investment of BOT (Build-Operate-Transfer), BTO and BTL which are globally used for the construction of socio-economic infrastructure. They emphasized the importance of PPP (Public Private Partnership) to realize BOT-typed project in a financial aspect all over the world and introduced some examples of Korea and other countries constructed by the share of investment between the Government of Korea (30%-55%) and Private Investment Company.
Korea International Cooperation Agency is a government agency of the Republic of Korea implementing the government's grant aid and technical cooperation programs. KOICA has 43 representative offices in partner countries.
Edited by: A.Badalova