Azerbaijan to spend AZN 4 bln on transport sector development

There is a plan to invest AZN 500 mln (about $607 mln by the current exchange rate), foreign investments inclusive, into the development of this sector.

According to Novosti-Azerbaijan, on Tuesday, Namik Hasanov, chief of the secretariat department under Azerbaijan's Ministry of Transport, said that the state budget of Azerbaijan envisions AZN 162 mln (AZN 196.6 mln) for the transport sector of the country.

"The remaining funds will be assigned by foreign investors", he said

According to Hasanov, on the whole, it is planned to invest AZN 4 bln (about $4.9 bln) to the traffic sector development within five years.

He said there is a plan to construct 10 bridges, 13 pedestrian subways, as well as transport units in Baku within 3 years.

"There is a plan to commission three bridges in September", he added.