The approval of the $50mln credit by the Council of Directors of the European Bank of Reconstruction and Development in order to improve the train stock of Azerbaijan State Railroad has been delayed to November 7, Trend reports with reference to the EBRD Release.
The said credit will be received in two segments, the first for purchase of trains at $27mln. The second segment of $23mln is suggested for the construction of train depots in Balajar and Beyuk-Shor and any extra purchases. It is also planned to overhaul 60 trains.
Total cost of the project is $70mln. The project mainly stipulates assistance to Azerbaijans railroads through purchasing cargo engines, recovery of old engines and accessories for four warehouses. This will allow improved transportation of oil and oil products by the Caucasian railroad line to the West and to the East. The project will also raise security and efficiency of ASR operations.