Middle East

Turkish contractors to help rebuild Nagorno-Karabakh – Middle East Monitor

After a 30-year occupation, the Nagorno-Karabakh region is set to be completely rebuilt, from infrastructure to roads and hospitals, and Turkish contractors will play a key role in this, according to an investment bank CEO, Anadolu Agency reported.

Azerbaijan wants to work with Turkish contractors, known for their experience in construction in the region, said Cenk Eynehan, the CEO of Istanbul-based PASHA Bank, whose parent company is located in the Azerbaijani capital Baku.

Around 1.5 million Azerbaijanis will return to the region as it pursues projects in infrastructure, road, agriculture, energy, education, and health, he stressed.

READ: Russia and Turkey open monitoring centre for Nagorno-Karabakh

He said Azerbaijan so far allocated a budget of 2.2 billion Azerbaijani manats ($1.3 billion) for the projects, and the budget is expected to rise by tens of billions of dollars in the coming years.

Eynehan said Turkish contractors will play a part in the 100-kilometer (62-mile) Fuzuli-Shusha motorway and Fuzuli Airport projects.

PASHA Bank will also play a role in financing facilities for the rebuilding process.

He stressed that under new agreements following Azerbaijan’s victory in Nagorno-Karabakh last fall, trade routes to China will be more active and trade will grow.

“We believe that the economic and strategic cooperation between the two countries will become stronger for the prosperity and future of the region,” Eynehan added.

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