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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