THE FIRST AZERBAIJANI $40 MLN TO GEORGIA FOR BAKU-TBILISI-KARS PROJECT
AZG Armenian Daily
16/08/2007
Azerbaijani International Bank transferred $40 mln to the Georgian
operator of Baku-Tbilisi-Kars railway: Marabda-Kartsakh Railway
Company. It’s the first part of the total $220 mln loan from
Azerbaijan, given to Georgia with a period of 25 years and 1 percent
interest annually.
According to Azerbaijani media, the first $ 40 mln are aimed for the
construction of 29 km railway in Georgia.
The project has been estimated $420 mln from the beginning. 2250 m
long tunnel, 12 bridges and 3 stations will be constructed in the
Turkish side of the project.
It’s planned to spend $99 mln for the reconstruction of 160 m long
Marabda-Akhalkalak railway.
It’s also planned to reconstruct the Azerbaijani part of the railway
and finish the whole Baku-Tbilisi-Kars project at the end of 2008.