Azerbaijan, Georgia and Turkey Agree on Initial Details of Kars-Akhalkalaki-Baku Railway Project Minister
All details of the Agreement regarding the project of the construction of the railway Kars-Akhalkalaki-Baku will be finalized by Friday (January 12).
All initial details of the project have been agreed with not many problems, The Transport Minister of Azerbaijan, Ziya Mammadov, informed Trend Special Correspondent in Georgia on 12 January.
He testified that Azerbaijan stands ready to fully finance its share in the project in amount of $200 mln. However, he did not announce the amount of credit from Georgia, saying that it was under negotiations.
The statement was made to the participants of the negotiations on the project in Tbilisi, after the visit of the Georgian Prime Minister, Zurab Nogaideli.
The Transport Minister of Turkey, Binali Yildirim and the Georgian Minister of Economy, Giorgi Arveladze, stated that they saw no obstacles on the implementation of the project.
Relating to the project, a number of trilateral documents are expected to be signed as a result of the meeting, including the credit agreement on Azerbaijan and Turkey's allocation of finance for Georgia for the project.
During the meeting on 13 October 2006 in Baku, the trilateral working group on the Kars-Akhalkalaki-Baku project considered the project of the framework agreement, obligations of the Georgians side on leading to the section of the construction of the railway and credit agreement between Azerbaijan, Turkey and Georgia. The project is estimated at $422 mln, but taking into consideration the additional infrastructure of $600 mln.
The U.S. Administration banned the American companies to participate in financing the project. The trilateral Azerbaijani-Turkish-Georgian declaration on construction of Kars-Akhalkalaki-Baku rail link was signed in May 2005 in Baku by the Presidents of Azerbaijan, Georgia and Turkey.