ADB Increased Amount of Finance for Reconstruction of Alat-Astara Automobile Road
The Asian Development Bank increased the amount of the finances for the project of reconstruction of the automobile road Alat-Astara, Gong Wang, the Head of the ADB Road Sector Projects said at the meeting with the Deputy Chairman of the State Customs Committee of Azerbaijan (SCC) Safar Mehdiyev, Trend reports.
According to him, a credit totaling $150-200 mln is planned to be allocated to Azerbaijan for the reconstruction of Alat-Astara section. The finance will be presented in the first half of 2007. Presently, the feasibility study is being prepared for the project at the expense of $700,000 grant disbursed by the ADB.
After the completion of the preparation of the feasibility study, work will be carried out on specifying the estimate cost and volume of work for reconstruction of Alat-Astara section, as well as Astara customs checkpoint.
The World Bank has already allocated $200 mln for the section from Alat to Shorsulu and Baku-Shamakhi-Mugan. The Iranian Bank is also planning to participate in the project, by allocating $40 mln.