Azerbaijan to apply new valuation method to state-funded construction projects

May 29, 2021 15:08 (UTC + 04: 00)

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Through Trend

The Cabinet of Ministers of Azerbaijan has taken the decision to assess state-funded construction projects using a resource-based method, which is considered more accurate, with trend reports referring to a source in the cabinet.

The decision has been prepared in order to determine, approve and apply the following limited cost rates due to the fact that from October 1, 2021, the resource method for the evaluation of construction projects financed by public funds will be applied in Azerbaijan:

– Standards for general construction costs;

– Estimated income standards in construction;

– Estimated standards for management maintenance (technical supervision) of enterprises under construction and other facilities;

– Standards for determining the level of reserve funds for unforeseen works and expenses;

– Standards for determining the amount of designer supervision funds;

– Standards for determining the costs associated with exposure to wind;

– Estimated cost standards for the construction of temporary buildings and structures;

– Estimated rates of additional costs associated with the implementation of construction and installation work in winter.

This decision will come into force on October 1, 2021.

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