ECONOMY


Khazar Islands breaks ground for connecting bridge

Baku, February 11 (AZERTAC). Avesta concern has today held a ground-breaking ceremony for a first connecting bridge as part of construction of the Khazar Islands residential complex.

President of the Avesta Concern Ibrahim Ibrahimov said more than $1 bln was spent on the construction work, and that the complex would hold up to 1 million residents. The project that costs $100 bln will be realized in 3 stages, and is planned to finish in 2030.

The main part of the complex is "AZERBAIJAN TOWER", which is considered to be the tallest building in the world. The height of the building will be 1050 m, and the facility will have 186 floors. Its construction will begin 2017.

Ibrahimov said that the concern planned to build a boulevard, as well as restaurants and beaches in the new complex.

Khazar Islands will cover 3,000 ha area. It will consist of 41 different sized islands and 19 districts. 8km-long and 3km-wide archipelago will cover 24 sq km. Total length of the boulevard line of islands will reach 50 km.

Some 150 schools, 50 kindergartens and hospitals, and numerous cinemas, theaters, restaurants and shopping centers, parks will be constructed on Khazar Islands. 8 mln sq/km of the total construction area will be occupied by homes, 4 mln sq/km – by shopping and business centers, and another 4 mln sq/km - hotels and apartments.

Distinguishing feature of the project also includes construction of an airport to be built on separate island, Formula-1 highway and camps for universities. In future, it is expected to create administrative management system of the Island - Mayor`s Office and city status.

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