Musa Panahov: "Baku-Tbilisi-Akhalkalaki-Kars Railway Project to be implemented by late 2008"

He said that Georgia plans to complete construction works in its territory by the end of 2008. "Issues concerning the financial sources are under discussion at present. The final decision will be taken at a meeting to be held after the discussion comes to and end on Nov. 15."

He also said that implementation of the project in Georgia spends $200m. But the transportation through this railway line will bring much profit and the loans can be repaid by means of this income. "I believe that the credits will be repaid on time. The project totally costs over $400m. Georgian part of the project spends some $200m and Turkish part of the project up to $220m. Azerbaijan seems to finance its own part of the project."

Panahov also said that this railway line will join Azerbaijan, Georgia and Turkey. Azerbaijan is not interested construction of any railway line Armenia may join, APA reports.