Project in construction and reconstruction of Alat-Astara highway to start in spring

Business Materials 24 October 2005 12:55 (UTC +04:00)

The World Bank plans to approve the project on financing the construction and reconstruction of the Alat-Astara in January 2006.

Baku Office of the WB told Trend the project is expected to get approval simultaneously with the new Country Assistance Strategy (CAS), as it will be implemented under the document.

"The project will be approved in this period with regard to sanction it in March 2006,” the Bau Office told Trend.

The project on construction and reconstruction of the Alat-Astara highway requires approximately $400m. $300m will be allocated by the WB, while the rest part вЂ" by the Asian Development Bank (ABD). The question on partial or full use of the WB credit will be accorded during the implementation of the credit agreement, as it is also planned to use a $40m credit allocated by Iran.

The 423km-highway enables to cut the road between Baku and Astara by 70km. the width of the route is 28.2m.