$55 mln to be spend for creation of effective transport management system in Baku - UPDATED

17:55

According to Novosti-Azerbaijan, the due announcement was made by chief of department of Transport Ministry's secretariat Namik Hasanov.

He said the first results of the project will come out in 2009.

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14:08

Azerbaijan's Ministry of Transport and Korean SK C& C Co.Ltd. have signed a contract on creation of the effective transport management system in Baku, according to a source from the Ministry, Novosti-Azerbaijan reports.

It should be noted that the contract was signed by Azerbaijan's Minister of Transport Ziya Mamedov and first vice president of the Korean company Joo Jeong Soo.

It should be noted that the relations between Azerbaijan and Korea have intensified following mutual official visits of the President of the two countries-President Roг Moo Hugh to Azerbaijan in May of 2006 and President Ilham Aliyev to Korea in April of 2007.

Within the past few years the governments of the countries signed 9 intergovernmental agreements, in particular, two on transport. The first one is related to construction of the Shamakhy-Quba highway and the second-construction of a sea bridge in Baku.