Bank Of Baku

Azerbaijan Railway Development Programme to be submitted to president for approval

Azerbaijan Railway Development Programme to be submitted to president for approval
# 13 October 2009 14:19 (UTC +04:00)
Baku. Rashad Suleymanov - APA-ECONOMICS. The final draft of the State Programme on Development of the Railway System has been submitted to the Government for approval, said Arif Askerov, chairman of Azerbaijani Railways Company.

According to him, the programme reflects recommendations and instructions of the head of the state on modernization of the railroads.

A.rif Askarov added that the World Bank has extended $450 million for the programme.

Transport Minister Ziya Mammadov said that the draft programme will be presented to the President for approval by the end of October.

The state program will cover 2010-2015 and provides for over $1 billion in investment.
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