ADB APPROVES $750,000 FOR DEVELOPMENT OF FEASIBILITY STUDY OF ALAT-ASTARA
The Asian Development Bank (ADB) has allocated a $750,000 grant for the development of a feasibility study f the project in the construction and reconstruction of the Alat-Astara highway, the Transport Ministry told Trend.
At present work over holding of a tender on qualification of a consultant, which would render services during the development of a document. The document is expected to be ready by late this year.
$400m is required for the development of a project on the construction and reconstruction of the 243km Alat-Astara highway. $300m of the budget will be covered by the WB, while the rest $100m will be covered by Azerbaijan ($60m) and Iran ($40m). The Ministry also said that Iran has officially agreed upon approval of a $40m credit for the implementation of the project.