Transport Ministry of Azerbaijan holds negotiations with Saudi Fund of Development on financing Evlakh-Gyanja highway construction project
The Transport Ministry of Azerbaijan holds negotiations with the Saudi Fund of Development for financing the Evlakh-Gyanja highway construction project, the Ministry told Trend.
According to the Ministrys spokesman, the project implementation is planned for 2006, therefore, the sides are expected to achieve specific results shortly. The projects total cost is $52,7 million.
The Islamic Development Bank (IDB) is also involved in the project funding, which allocates the loan of $10,4 million. The government will also finance part of the works on the project.
The Evlakh-Gyanja highway length is 88,8 km. The Feasibility Study has been developed by the German Cocks in late 2004.