Azerbaijan will acquire ten freight electric locomotives from UZJM OSC. Such decision was made during the visit of Ural to Azerbaijan, Trend reports with reference to the State Railway Department of Azerbaijan (SRDA).
These locomotives equal $2 mln. They will be acquired in the near future, the same source told.
Last month Azerbaijan already received five locomotives from Russian companies. The contract amounted to AZN 10 mln. The finance was allocated from the state budget of Azerbaijan.
Besides, the European Bank for Reconstruction and Development (EBRD) is expected to give $30 mln to Azerbaijan for the modernization, reconstruction and renewal of the locomotive park of SRDA, with term of up to 15 years (first four years with privilege). The interest rate for the credit is Libor+1%. SRDA is going to obtain other $20 mln within the second stage.
The renewal of the locomotive park is justified through the increasing volume of the transportation through TRACECA transport corridor, as well as beginning of the realization of projects such as opening of rail link through Kars-Akhalkalaki-Baku-Tbilisi. According to the assessments of the specialists, 80% of the locomotive part has exhausted its balance and require replacement.