In May 2006 Transport ministry is going to call for a new tender on completion of construction of round-Baku highway, deputy transport minister Musa Panakhov told Trend.
Panakhov said the pervious tender was canceled due to overestimation of construction operations in tender bids. В"Cost estimate of this project is some $50mln, while the bidders prices were much higher. Most likely, this was linked to overestimation of the project. Were considered these prices contrary-to-fact and canceled the tenderВ", - he noted. Bidders offers included prices up to $83mln. 15 companies in total participated in the tender.
Construction operations are planned to commence in summer, therefore Transport Ministry is hurries to select a contractor. Upon the rise in price, the project cost amounted $49.5mln, and Azerbaijans share will consequently rise from earlier set $3.5mln. Apart from these funds, the project was planned to execute at Kuwait Development Funds cost; the Fund issued a $14.9mln credit; besides, Arab Development Fund of Abu Dhabi issued $10mln. Involvement of additional funds would imply the 3-5 years of project postponement, but the government assigned Transport Ministry to reconstruct all highways in the republic by the end of 2008.