Azernews.Az

By Ayya Lmahamad

Azerbaijan Railways and McKinsey& Company are working on the development of the “Corporate Strategy of Azerbaijan Railway until 2030”, the company’s press service reported on September 4.

During the videoconference held on September 2, representatives of McKinsey & Company provided detailed information about the progress of the project, and discussed the strategic goals of the Azerbaijan Railways.

Chairman of the Azerbaijan Railways Javid Gurbanov spoke about the latest political and economic events in the country, noting their possible impact on the activities of the company.

He emphasized the strategic importance of purposeful and effective investments into the railway, optimization of operating costs and increase of profitability, especially in transit corridors.

Moreover, speaking about importance of investment in the railway, he stated that this is needed in order to successfully continue the company’s social responsibility in passenger traffic, and to maintain level of infrastructure services.

In turn, international experts in the railway sector of McKinsey & Company presented examples of the most successful railroads in the world and gave advice on how to formulate strategic goals of Azerbaijan Railways.

It should be noted that Azerbaijan Railways signed an agreement with McKinsey & Company on May 21, 2020 to develop the corporate strategy of the Azerbaijan Railways for the period up to 2030.

Earlier it was reported that Azerbaijan’s Ministry of Energy and McKinsey & Company signed an agreement to conduct a detailed diagnostics of the country’s gas supply system.

Under the agreement, the company will provide consulting services to the ministry, when preparing proposals for reforms in this area in order to improve the efficiency of the country’s gas supply system, taking into account best international practices, to ensure reliable satisfaction of consumers’ needs.

McKinsey & Company is management consulting firm, founded in 1926 that provides advice on strategic management to corporations, governments and other organizations.

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