Today.Az » Business » Azeri, Georgian, Turkish Transport Ministry officials to meet in Baku
12 May 2007 [12:47] - Today.Az
Representatives from the Transport Ministries of Azerbaijan, Georgia and Turkey will come together in Baku on May 14-15 to discuss some issues related to implementation of Baku-Tbilisi-Kars railway project.
Azerbaijan's Deputy Minister Musa Panahov 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.
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