Azerbaijan eyes to invest $1B in its railway infrastructure

Business Materials 12 April 2019 09:51 (UTC +04:00)

Baku, Azerbaijan, April 12

By Sara Israfilbayova - Trend:

Azerbaijan plans to invest $1 billion in its railway infrastructure by 2022, Trend reports with reference to the "Market Analysis Azerbaijan 2019" publication.

Azerbaijan intends to benefit increasingly from the transit of goods along international corridors, according to the report.

The report further reads that the country’s Azerbaijan Caspian Shipping Company (CASPAR) intends to invest some $1.5 billion in fleet expansion between 2018 and 2027.

Local and international procurement of 72 ships is to be financed from its own resources, as well as from state funds.

Further, the publication notes the importance of the International North-South Transport Corridor and reads that from 2019 to 2021, investments will be mainly directed to 3 sections - Rasht-Astara, Baku-Yalama and Baku-Astara.

The International North–South Transport Corridor is a multi-mode network of ship, rail, and road route that links the Indian Ocean and Persian Gulf mostly through Iran, Azerbaijan and Russia and connects to the Central Asia and Europe.


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