Azeri Government discusses Railway Development Draft Program

Azeri Government discusses Railway Development Draft Program
# 10 May 2007 12:28 (UTC +04:00)
Azerbaijan’s Transport Ministry) has submitted the Railway Development Draft Program to the Government for consideration.
The program for 2007-2011 is aimed at railway modernization, including rationalizing the track and rolling stock asset base, increasing productivity, setting up a new legal framework and building up management capacity.
The Minister Musa Panahov said the government discusses the draft with relevant government agencies.
According to the preliminary calculations, the project requires more than US $1 billion in investment during the lead-time.
Within the scope of the development program, it is intended to explore prospects of fast train infrastructure project too.
The minister said that establishment of fast trains system in Azerbaijan needs more funds.
“We are negotiating with French and South Korean companies on this project. The talks focus on whether using fast trains in the present railroads or laying new railway,” he added. /APA-Economics/