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S&P: Azerbaijan will be able to fully utilize opportunities of BTK next year

19 December 2025 11:33 (UTC +04:00)

The completion of the tests on the Baku-Tbilisi-Kars (BTK) railway line in 2025 and the improvement of customs procedures will increase Azerbaijan's opportunities for full use of rail transportation through Georgia, APA-Economics reports, citing the international rating agency "S&P Global Ratings".

It was noted that the modernization project of the main trunk line on Georgian railways has increased the throughput capacity from 27 million tons per year to approximately 48 million tons. The impact of the project began to be felt from September 2025, and the full effect is expected from 2026.

S&P emphasizes that the completion of the test phase on the BTK line in 2025, as well as improvements made to customs processing mechanisms, will support the resumption of transportation. As a result of these changes, Azerbaijan and Türkiye will be able to fully use the railway connection with Georgian Railways (GR).

According to the report, Georgian Railways' strategic and marketing measures, as well as infrastructure improvements implemented with state support, will create the basis for further recovery of transportation volumes in the medium and long term.

At the same time, S&P notes that the sustainability of growth, the high capital expenditures (capex) required to maintain the existing infrastructure and renew the rolling stock, remain the main challenges for Georgian Railways.