Baku-Tbilisi-Kars project workgroup meets in Baku

Azerbaijan's Transport Ministry 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.