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04.05.2012 10:31

Transport Ministers of Azerbaijan, Turkey and Georgia to meet in Baku next month

Baku. Victoria Dementyeva - APA-Economics. Next month, Transport Ministers of Azerbaijan, Turkey and Georgia will hold next meeting on Baku-Tbilisi-Kars railroad project, said Turkeys Minister of Transportation, Maritime Affairs and Communications Binali Yildirim, APA reports citing Turkish media.

To him, talks are approaching the end.

Azerbaijan, Georgia and Turkey signed the final document on the construction of Baku-Tbilisi-Kars on February 8, 2007. The construction of the new railway started on November 21, 2007. Azerbaijan extended $200mln. preferential loan for Marabda-Kartsakhi Railway LLC (for 25 years) to construct Georgian part of the railway. At the expense of this loan new 29km-road and wheels changing station will be constructed and the old road will be reconstructed.

Moreover, Azerbaijan extended extra funds for Georgia $575mln (for 25 years) to change the direction of the tunnel that will be built in the area from Akhalkalaki by the Turkish border and rehabilitate and reconstruct 160km railway in Marabda-Akhalkalaki. Baku-Tbilisi-Kars project is being implemented with the financial support of the State Oil Fund of Azerbaijan.

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