Azerbaijan, Baku, Dec.13 /Trend A.Akhundov/
The Asian Development Bank (ADB) completes the implementation of two projects in Azerbaijan, head of the bank in the country Ollie Noroyono said at a press conference on Thursday.
"The project on the construction of Ganja by-pass road and dual-circuit 220 kV transmission line from Mingachevir hydroelectric power to Absheron substation will be completed by the end of the year.
"By the end of the year completed the project on construction of Ganja by-pass road and dual-circuit 220 kV transmission line from Mingachevir hydroelectric power to Absheron substation. Therefore, we will hold a meeting with the Azerbaijani government and close the financing of these projects this or next week," Noroyono said.
He noted that there were some delays in the implementation of the first project and deadlines were postponed, but the construction of the road should be completed by the end of the year.
"All components of the energy project will also be completed, all the physical work will be executed," Noroyono said.
According to agreement between ADB and Azerbaijani government, ADB provided a loan of $55.4 million for rehabilitating 39 kilometers of a two-lane paved road bypassing Ganja, Azerbaijan's second largest city. The project road is a part of the country's primary east-west highway linking the capital, Baku, to the Georgian border. It will meet Azerbaijan's standards for a category II road with a 7.5-meter-wide pavement.
The contract between "AzerRoadService" OJC and the contractor was signed on December 26, 2008. Construction works commenced in August, 2009.
Contract with the contractor was from the beginning designed for implementation of construction works for two years. The construction project of Ganja road envisages the purchase of round and rectangular water pipes, the construction of three new bridges, highway equipment, installation of safety signs on roads and two-lane road reconstruction.
ADB has provided $160 million for 20 years with a five-year grace period and annual rate of LIBOR 0,08 percent for the implementation of the project on of power lines (Power Transmission Enhancement Project). The project will allow to reconstruct the power lines that run for more than 60 years for a few years. The project includes the union of 220/110 kV substation with 110 kV power line.