Azeri, Georgian, Turkish Transport Ministry officials to meet in Baku

Azeri, Georgian, Turkish Transport Ministry officials to meet in Baku
# 12 May 2007 09:39 (UTC +04:00)
Azerbaijan’s Deputy Minister Musa Panahov told APA-Economics that the issues on charter of the Coordination Council, selection of members and etc. will be discussed at the meeting.
The final intergovernmental agreement on Baku-Tbilisi- Kars railway link was inked in February.
As per the agreement, Azerbaijan extended a $200mln loan to Georgia’s Marabda-Karsi 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 station in Turkish-Georgian border and rehabilitation of old railway.
Experts estimate that Azerbaijan will earn $50mln in first years after the railroad comes on line. /APA-Economics/
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