$40 mln to be invested in railway

$40 million in foreign investment will be invested in the Azerbaijan railway in 2001. According to the railway office, the means will mainly target the development of the locomotive depot and modernization of the alarm system on the Baku-Beyuk Kasik section.

The source added that due to an increase in freight turnover, a number of corresponding projects will be implemented in Russian direction. AZM40 billion of the EBRD $20 million credit will be used this year.*