Construction of Shamkir-Gazakh highway to be over in March

Business Materials 5 January 2006 12:47

The construction of the Shamkir-Gazakh highway is planned to be completed in March 2006, the Azerbaijani Transport Ministry told Trend.

The work has been done by 70%. The Shamkir-Gazakh is a section of the 94km Ganja-Gazakh highway building by Turkish Turan Hazinadaroglu Company.

The project is financed at expense of the $40m loan granted by the International Development Association under the World Bank. Besides, the Azerbaijani government allocated $8m. The loan agreement between Azerbaijan and the World Bank was concluded in 2002 for 40 years with 10-year grace period and 0.75% rate.

The total length of the motor ways in Azerbaijan exceeds 24,000 km.