Czech company starts Baku-Samur road rehabilitation project
On 10 March the Czech Brno is launching implementation of the rehabilitation project of the road part within the Baku-Samur road reconstruction project, the Transport Minister Ziya Mammadov has told today, Trend reports. The company will build the road bypassing the town of Guba. And roundabout roads will be built bypassing all towns, the Minister noted.
The Azerbaijan AzerInsaatServis will be subcontractor of this company. Funding of the project will be performed on the Czech Eximbank loan.
The funds for the Baku-Samur road reconstruction project implementation are allocated by the European Bank for Reconstruction and Development (EBRD) and the Czech Eximbank. The amount of the EBRD loan is $100 million. They are allotted under standard conditions by the state guarantees. The means will be spent for rehabilitation of the road from 28 to 89 km.
The rest part of the road of 208 km will be reconstructed on the account of the Czech В"Eximbank by the loan of $180 million. From the total amount of means $102 million are allocated by В"Eximbank and $78 million by French BNP Paribas. The loan is for 15 years with the privileged period of 4 years and the Libor+0,6% interest rate.