From 2018 through 2022, $196.306 million was spent on the Sumgayit-Yalama railway rehabilitation project, Report informs referring to the audited financial statements of the project for 2022.
The total cost of the project financed by the Asian Development Bank (ADB) and the French Development Agency (AFD) is $331 million.
Of the funds disbursed, $90.939 million came from ADB (with a loan of $150 million), $72.159 million from AFD (€93.159 million or $105 million), and $33.207 million from the Government of Azerbaijan (share in the project - $76 million).
In 2022, $52.014 million was spent on the project against $78.539 million. At the same time, $22.646 million ($35.309 million in 2021) were allocated by ADB, $18.159 million ($32.877 million) were allocated by AFD, and $11.207 million ($10.352 million) were allocated by the Government of Azerbaijan.
For construction work in 2022, the Asian Development Bank allocated $20.783 million ( $31.651 million in 2021), the French agency accounted for $18.159 million ($32.877 million), and the government of the country provided $6.979 million ($11.532 million).
In total, from 2018 through 2022, $182.742 million were spent on construction work under the project.
The project provides for the rehabilitation of about 333 kilometers of the main track from Sumgayit to Yalama, including building structures and railway crossings, as well as the development of a phased strategy for improving other key railway facilities, such as electrification, signaling and telecommunications, to complete the modernization of the North-South from Yalama to Astara.
The project will be completed by the end of 2024.