The Ministry of Transport intends to launch the construction of the suspended road bridge over the Baku Bay at the initial value of $ 1.5-1.8 billion.
Today at the 2nd Caspian International Conference "Road and underground infrastructure - solutions to the problems of urbanization" reporters were told by the Ministry of Transport Sector Head Heydar Turabov that the length of the object is 26 km, 17 km of which will be held over the sea and connect the northern and southern parts of the city, bypassing the center. This, he said, should remove the traffic load from the central part of the capital.
This is not only costly and "unfinished" project of the ministry. According to the head of the analytical department of JSC Azeryolservis, Hidayat Rustamov, on the agenda is the construction of an underground tunnel through the sea that will consume more resources than the bridge over the sea.
The Transport Ministry is the leader in "eating investment" in transport infrastructure.
Total investments in the transport sector of Azerbaijan in the last five years amounted to $ 14.5 billion.
During this period, the improvement of roads was invested $ 11 billion 840 million, including $ 2 billion 375 million in 2014.
Since 2005, the share of investment spending in the state budget is about 40%. Neither the Accounting Chamber, nor the Ministry of Finance gives the public a report on the focus of the public spending. -17D-
Economics
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SOCAR President Rovshan Najaf met with the Minister of State for Petroleum of Pakistan, Musadik Malik, on January 18. According to SOCAR, the discussions covered joint energy projects, achieved outcomes, and cooperation opportunities in various areas, including the trade of petroleum products.
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The State Statistics Committee of Azerbaijan reported that in 2024 investments in fixed assets reached 21,435.1 million manats, which is 0.7% less than in 2023. While overall figures edged lower, the sectoral breakdown reveals notable disparities between the oil and gas sphere and non-oil industries.
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Azerbaijan’s industrial enterprises and individual entrepreneurs reported a modest 1.1% year-on-year increase in industrial production during 2024, reaching an output valued at 64.1 billion manat. The State Statistics Committee attributed the overall growth to a 0.5% expansion in the oil and gas sector, while non-oil and gas industries surged by 7.3%.
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Global diesel prices and refining margins have spiked following the latest U.S. sanctions targeting Russian oil trade, as markets brace for reduced supply, analysts and LSEG data indicate.
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