European Commission ready to support major transport projects in Azerbaijan
Baku, Azerbaijan, Jan. 21
By Azad Hasanli - Trend:
The European Commission (EC) is ready to support three transport projects in Azerbaijan, worth 1.1 billion euros, Trend reports citing the Indicative trans-European Transport Network (TEN-T) Investment Action Plan, co-authored by the EC and the World Bank.
The plans in Azerbaijan include creating five logistics centers (369 million euros) and a free trade zone in Alat (410 million euros) and modernization of the East-West Railway (328 million euros).
The first two projects are proposed to be financed via public-private partnership and the third project by the international financial organizations.
Together, the projects in the Eastern Partnership (EaP) countries will require an estimated investment of almost 13 billion euros and foresee a total of 4,800 kilometers of road and rail, 6 ports and 11 logistics centers, the European Commission said.
The projects will make possible the construction and rehabilitation of new and existing roads, rail, ports, airports, as well as logistics centers and border crossing points.
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