Construction of the Baku-Tbilisi-Kars railway has great significance for Azerbaijan and Georgia, Georgian Minister for Regional Development and Infrastructure Ramaz Nikolaishvili said, APA reports.
Construction is taking place in the Marabda-Kartsakhi Region. It has been ongoing for 2 years. Work is carried out 24 hours a day, regardless of weather. The new railway is built on the border with Turkey. the project will be completed in 2013, the minister hopes.
Azerbaijan, Georgia and Turkey signed a deal on the railway construction in Tbilisi on February 8th, 2007. Azerbaijan is providing the Railway of the Marabda-Kartsakhi Company with $200 million for 25 years with an interest of 1% annually. Georgia will build 29 km of railway.
Azerbaijan provided Georgia with $575 million with an interest of 5% annually. The project is realized with financial support from the State Oil Fund of Azerbaijan.
