TODAY.AZ / Business

Officials discuss Baku-Tbilisi-Kars project in Baku

15 May 2007 [22:42] - TODAY.AZ
Officials from Azerbaijan, Georgia and Turkey have come together in Baku to discuss some issues related to implementation of Baku-Tbilisi-Kars railway project.

The issues on charter of the Coordination Council, action plan, construction of Marabda-Turkey railroad etc. were 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 reports.

URL: http://www.today.az/news/business/40880.html

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