(1888PressRelease)
June 05, 2009 - The main development objective of the Government of the Republic of Azerbaijan was to reconstruct the country’s road infrastructure, i.e. to restore the highway to Category 1 road standards, enabling safe, high-speed traffic that in turn would lead to an increase in the flow of goods.
One main project component was the highway from Baku to the Russian Federation border, between kilometres 6 and 191. The USD 177 million necessary to complete the project was secured by the project owner, the Ministry of Transport, through an Export Facility Loan from the Czech Export Bank.
SGS provided investors and risk management banks the best possible support during the reconstruction works. The project monitoring that SGS was asked to perform was divided into three separate contracts, each covering a distinct section of the highway.
After completion of each kilometre of highway a commissioning survey was conducted. (http://www.projectfinance.sgs.com/construction_projectfinance#commissioning_survey). The current section was thoroughly inspected and after passing the approval process it was handed over to project owners together with reports on the progress and detailed analyses of the project schedule.
By successfully implementing a multi-phased project supervision plan, SGS managed to keep the Azeri highway reconstruction on schedule and within the desired quality standards. The entire length of the highway will become fully operational in the summer of 2009.
SGS, the world’s leading inspection, verification, testing, and certification company, is the preferred international partner for those involved in the energy, infrastructure, trading and commodities fields. SGS Project Finance Services include risk management, project monitoring and management, technical and environmental due diligence and Equator Principles verification. To find out more about SGS Project Finance Services, please visit: http://www.projectfinance.sgs.com/services__projectfinance
http://www.projectfinance.sgs.com/comprehensive-project-monitoring-on-the-reconstruction-of-an-azeri-highway?viewId=10066811&msvpos=10015015
SGS SA - Industrial Services – Project Finance Services
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P.O. Box 2152
1211 Geneva 1
Switzerland Corporate
Tel: +49 40 30101-266
Fax: +49 40 30101-936
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