An additional loan has been secured to continue the reconstruction works of the Sumgayit-Yalama railway line, APA reports, citing Cabinet of Ministers' report for 2024.
It was noted that in order to develop the section of the International "North-South" Transport Corridor passing through the territory of the Republic of Azerbaijan, which plays a significant role in strengthening the country's transit-logistics potential, the reconstruction of the Sumgayit-Yalama railway line is being carried out within the framework of the "Railway Sector Development Program" jointly financed by the Asian Development Bank and the French Development Agency.
The initial cost of the project has been estimated at 330 million USD, with a loan of 150 million USD provided by the Asian Development Bank and 93.16 million EUR (equivalent to 105 million USD) provided by the French Development Agency.
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