South Korea’s Shinhan Bank has granted a $180m loan to Azerbaijan for the Yevlakh to Ganja Road 4 Lane Widening project.

The project, carried out under a design/build contract, will involve the construction of a new carriageway on an existing highway, according to

Azerbaijan transport minister Ziya Mammadov said an amount of $70m has already been spent on the project.

“South Korea’s private companies have completed design work for Guba-Shamakhi highway project,” Mammadov said.

Azerbaijan is also holding talks on the purchase of locomotives from South Korea.