Baku-Kars Railway Project Coordination Council to meet in Tbilisi

Baku-Kars Railway Project Coordination Council to meet in Tbilisi
# 04 December 2008 13:03 (UTC +04:00)
Baku. Viktoriya Dementyeva, Rashad Suleymanov – APA-Economics. The Coordination Council of the Baku-Tbilisi-Kars Railway Project is scheduled to meet in Tbilisi on Dec. 16, said Georgian First Deputy of Minister of Economic Development Vakhtang Lezhava.
The meeting will discuss the project budget for 2009, results of work done and the activities planned for next year.
Vakhtang Lezhava said rail-laying work will further accelerate in Georgia next year.
“Work is under way at present. The work will continue to progress for completion on schedule next year. Work in Georgian segment of the project will be completed in one and a half years, said Lezhava.
The three countries agreed in February 2007 to build a rail line linking the Azerbaijani capital Baku, the Georgian capital Tbilisi and the Turkish city of Kars. Construction work commenced on November 21, 2007.
As per the agreement, Azerbaijan undertook to extend a $200mln loan to Georgia’s Marabda-Kartsakhi Railroad LLC for 25 years at 1% interest rate annually. The loan will be spent on construction of a 29km long railroad in Georgia, a ST-2 wheel base in Turkish-Georgian border and rehabilitation of old railway.
The project costs more than $600 million. Construction of railroads is slated for operation in late 2011.
A 76km long railway will be laid in Turkey as part of Baku-Tbilisi-Kars Rail Link
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