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Baku-Tbilisi-Kars Coordination Council to meet on July 15

29 June 2007 12:44 (UTC +04:00)

The Coordination Council of the Baku-Tbilisi-Kars Railway Project is scheduled to meet on July 15. The Transport Ministry officer Sadraddin Mammadov told APA-Economics that a number of issues on construction, financing, action plan etc. will be discussed at the meeting.
Azerbaijan is represented in the Coordination Council by Gurban Nazirov, officer of Azerbaijan State Railway Company (ADDY).
The final intergovernmental agreement on Baku-Tbilisi- Kars railway link was inked in February.
As per the agreement, Azerbaijan extended a $200mln loan to Georgiaâ€™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. /APA-Economics/