Azerbaijan to allocate extra $175 mln to Georgia on BTK project

Azerbaijan to allocate extra $175 mln to Georgia on BTK project
# 13 February 2013 16:34 (UTC +04:00)

According to him, Azerbaijan and Georgia have agreed on all issues regarding the construction of BTK: “Azerbaijan will allocate extra $175 million for the construction of the Georgian part of BTK. The trains must be launched from the Georgian part of BTK by the end of this year. Each of the three countries is ready to fulfill their obligations.”

The minister said that trilateral meeting of the Coordination Council will be held in Istanbul on February 22.

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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