Azerbaijani and Korean Transport Ministries Ink Memo on Intention

Business Materials 19 April 2007 20:32 (UTC +04:00)

Azerbaijan, Baku / corr. Trend I Khalilova / The Transport Ministries of Azerbaijan and Korea signed a memorandum of intention in Seoul, the Ministry announced.

Within the framework of the memorandum Korea will render assistance in the establishment of the Intellectual Management of Transport in Baku.

As of preliminary estimations, its establishment will begin in mid-year and will take three years to complete according to the Transport Minister of Azerbaijan, Ziya Mammadov. The project is estimated to be $50-55mln. The tender will be announced after the signing of a memorandum.

The Korean company STS has presented the project twice to the Transport Ministry of Azerbaijan. Creating this system will provide an opportunity to send operative information regarding the movements of transport means, speeds, stops, transport accidents, corks and other events to the dispatcher point.