TODAY.AZ / Business

Azerbaijan to approve Railway Development Program

27 February 2008 [15:13] - TODAY.AZ
After discussing with the relevant bodies, the Government of Azerbaijan has submitted the Railway Development Program to head of state for approval.

Gurban Nazirov, Chief Engineer of the Azerbaijan State Railways Company (ADDY), said the 2008-2011 program is to be approved in the nearest future.

According to him the program includes comprehensive development and upgrading of the railways system in the country.

The program will allow infrastructure modernization, including procurement of new locomotives, railcars and increasing the capacity handling capacity. The activities are estimated to spend $1 billion in investment, 40% of which will be provided by the World Bank. ADDY was established in 1880 and some part of its fleet and railroads are obsolete and aging.

/APA/
URL: http://www.today.az/news/business/43410.html

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