SOFAZ HAS NOT YET ALLOCATED SUMS FOR BAKU-KARS RAILROAD CONSTRUCTION

/PanARMENIAN.Net/
27.05.2009 11:06 GMT+04:00

/PanARMENIAN.Net/ This year, the State Oil Fund of Azerbaijan
(SOFAZ) has not yet allocated considerable sums for the construction
of Baku-Tbilisi-Kars railroad, SOFAZ Executive Director Shahmar
Movsumov said.

According to him, the allocated sums were envisaged for the maintenance
of the office responsible for project implementation. "This year,
SOFAZ plans to spend $100 million within the railroad construction
project framework," Movsumov said.

Azerbaijan plans to allocate $200 million from SOFAZ resources
for the construction of the Georgian part of Baku-Tbilisi-Kars
railroad. Additional sum of over $280 has been allocated for the
maintenance of "Marabda-Kars Railroads" LLC. The money will be spent
for paying salaries and covering other office expenses, Trend Capital
reports.

Baku-Tbilisi-Kars project also envisages the construction of a new
branch line with a length of 105 km., with 76 km. passing across
Turkey’s territory and 29 km. passing across Georgia, Besides,
Akhakalaki-Marabda-Tbilisi section of the railroad (183 km.) will
be reconstructed in Georgia for increasing the throughput capacity
to 15 million per year. It is also planned to construct a railway
transit point in Akhaltsakhe to match the Georgian rails with European
railroad system.