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Final Meeting on KOICA Project â€˜The Feasibility Study on the Baku Bay Marine Bridge Constructionâ€™ held in Baku - PHOTO

Final Meeting on KOICA Project â€˜The Feasibility Study on the Baku Bay Marine Bridge Constructionâ€™ held in Baku - <font color=red>PHOTO</font>

18 November 2011 15:33 (UTC +04:00)

Baku. Ali Ahmedov - APA-Economics. Final Meeting on KOICA (Korea International Cooperation Agency) Project â€˜The Feasibility Study on the Baku Bay Marine Bridge Constructionâ€™ was held in the Ministry of Transport on November 17, 2011.

On behalf of the Government of the Republic of Korea, KOICA has provided the project budget (US $1.6 mil) for the implementation of the project from July 2010. Implementing company (Dongsung Engineering, Chungsuk Engineering and Dodam E&C) of the project prepared basic concept and direction of construction which include technical aspects such as design standards, geotechnical investigation result, route plan and travel demand on the bridge.

Korean experts from the company also presented the construction method by private investment of BOT (Build-Operate-Transfer), BTO and BTL which are globally used for the construction of socio-economic infrastructure. Furthermore, the experts emphasized the importance of PPP (Public Private Partnership) to realize BOT-typed project in a financial aspect all over the world and introduced some examples of Korea and other countries constructed by the share of investment between the Government of Korea (30%-55%) and Private Investment Company.

Korea International Cooperation Agency (KOICA) is a government agency of the Republic of Korea implementing the governmentâ€™s grant aid and technical cooperation programs. KOICA has 43 representative offices in partner countries.