Credit Agreement on Reconstruction of Highway Yevlakh-Ganja Signed in Baku

Business Materials 12 February 2007 19:40 (UTC +04:00)

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.