OREANDA-NEWS. December 14, 2010. CJSC Azerbaijan Railways (Azerbaijan Demir Yollari; ADY) has established a commission to implement the State Railway Development Programme for 2010-14. The Commission is headed by ADY first deputy chairman Alirza Suleymanov. The Commission will undertake solution of issues to fasten making of feasibility reports of investment projects.

In this regard ADY deputy chairman Gurban Nazirov has stated that in the course of the program period investments of 2.4 bn manats will be made in development of the railway system.

"In part, they will be carried out at the expense of foreign credits and investments,” Nazirov said.

In accord with the current exchange rate the investment cost is estimated at USD 3 bn.