The first freight train in the framework of the project North-South will depart from Mumbai (formerly Bombay, India) to the Iranian port of Bandar Abbas presumably by ferry in August. Then it will go by rail to Rasht, and further – by trucks to Astara (Azerbaijan) and from there again by train - to Moscow, the head of CJSC Azerbaijani Railways Javid Gurbanov told reporters.
"The end point of a pilot shipment of goods is still the capital of the Russian Federation. However, depending on how the new route will be formed, cargo from India may be carried to St. Petersburg and then to Helsinki," he said.
Recall, the agreement signed by Azerbaijan, Iran and Russia in 2005 provides for the construction of segments of the railway on the territory of Iran stretching 375 km, as well as between Astara and the Azerbaijan-Iranian border. In addition, it provides for the reconstruction of the Azerbaijani railway. The total cost of the project is $ 200 million. --17D-.
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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