Korean agency allots $1.5m to build Baku Bay bridge
The Korean International Cooperation Agency (KOICA) signed an
agreement in Baku on Thursday on allocating a $1.5 million grant to
the Azerbaijani government under a project to build a bridge over
the Baku Bay.
Transport Minister Ziya Mammadov told reporters that the allocation will allow the Korean side to prepare a feasibility study within the next two years. Over the next two months, Korean experts will arrive in Azerbaijan to start research under the project, which aims to improve the transport infrastructure in Baku.
According to preliminary estimates, the cost of building a bridge across the bay will exceed $1 billion.*
Transport Minister Ziya Mammadov told reporters that the allocation will allow the Korean side to prepare a feasibility study within the next two years. Over the next two months, Korean experts will arrive in Azerbaijan to start research under the project, which aims to improve the transport infrastructure in Baku.
According to preliminary estimates, the cost of building a bridge across the bay will exceed $1 billion.*
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