TODAY.AZ / Business

Azerbaijan State Railways to become Joint Stock Company

08 February 2007 [10:29] - TODAY.AZ
A package of proposals is being worked out to convert Azerbaijan State Railways (ADDY) to a Joint Stock Company.

Deputy Minister of Transport, Musa Panahov, told APA that the state will own a 100% stake in the company.

"Most CIS members used this experience. This will contribute to both management and effective use of railways," he said.

He said 2007-2012 Development Program has been worked out and international financial organizations are keen on investing in the railway infrastructure in Azerbaijan. A project is being developed together with the World Bank, Japan offers preferential loan for 40 years.


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