Credit Agreement on Reconstruction of Highway Yevlakh-Ganja Signed in Baku
The credit agreement on financing the reconstruction of the Highway вЂ" Yevlakh вЂ"Ganja has been signed between the Azerbaijan Transport Ministry and the Saudi Arabian Development Fund, a source in the Azerbaijan Ministry informed Trend.
The agreement was signed between Ziya Mammadov, Azerbaijan Transport Minister and Yusif Al Bassam, the Vice-President of the Saudi Fund.
The cost of the reconstruction of the highway with the length of 88,8 km is $61,7 mln. A part of the funds (about 15%) will be granted by the Azerbaijan Government. Works on the highway will be launched this year. All the work is expected to be completed till the end of 2008.