Next meeting on Baku-Tbilisi-Kars railway project to be held on March 1 in Istanbul

 Next meeting on Baku-Tbilisi-Kars railway project to be held on March 1 in Istanbul
# 28 February 2013 13:28 (UTC +04:00)

Baku. Anaxanım HidayÉ™tova – APA-Economics. On March 1, Istanbul will host the fifth meeting of the Tripartite Council for the Baku-Tbilisi-Kars Railway Project.

According to APA-Economics, the meeting will be attended by Turkish Transport Minister Binali Yildirim, Azerbaijani Transport Minister Ziya Mammadov and Minister of Economy and Sustainable Development of Georgia Giorgi Kvirikashvili.

Remind that, 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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