Expenses for construction of Turkish section of Baku-Tbilisi-Kars increased

Construction expenses of Baku-Tbilisi-Kars railway have increased, Haberturk reported.

The reason of it is that 290 mln TL (nearly AZN 145 mln) funds considered for Turkish part (76 km) has been ended.

The Ministry of Transport of Turkey stated that tender for 700-750 mln TL (AZN 300-375 mln) will be announced for completion the project.

Remind that, the final document between Azerbaijan, Georgia and Turkey on the construction of BTC was signed on February 8, 2007, in Tbilisi. For the construction of the Georgian section of the railway company Azerbaijan has allocated soft loan worth 200 million dollars (for 25 years at 1% per annum) to Georgia’s “Railway Marabda-Kartsakhi” LLC. These funds will be spent to construction of 29 km long-new road in Georgia, wheel changing point o border with Turkey, as well as to reconstruction of old road.

In addition, Azerbaijan allocated loan worth $ 575 million at 5% per annum for other constructions in Georgia. The project is funded by the State Oil Fund of Azerbaijan.


/APA/