TODAY.AZ / Business

Government receives Railway Development Draft Program

02 April 2007 [21:52] - TODAY.AZ
Azerbaijan State Railway Company (ADDY) has submitted the Railway Development Draft Programme to the Government for consideration.

The programme for 2007-2011 is aimed at railway modernization, including rationalizing the track and rolling stock asset base, increasing productivity, setting up a new legal framework and building up management capacity.

According to the preliminary calculation, the project requires more than US $600 million in investment, of which 40% will be provided by the World Bank.

The prospects of other investment sources are being studied. APA-Economics

URL: http://www.today.az/news/business/38656.html

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