“The total value of the project on construction and reconstruction of the Alat-Astara highway will comprise $350m,” Musa Panahov, the Deputy Transport minsiter, told Trend.
According to Panahov, the financing sources of the project have been determined. “The project will be financed by the World Bank (WB) and the Asian Development Bank (ADB). Approximately 3/2 of the fund will be presented by the WB and the ADB, but the value is supposed to rise due to resettlement of the population on this route. Besides, the highway is expected to be 4-stripe,” the Deputy Transport Minister said.
Panahov noted that the length of the highway was reduced by 46 km under the new design. “We plan to develop technical documents, credit agreements to start the constructions work in mid-2006,” he underlined.