BAKU, Azerbaijan, March 2. Azerbaijan will have a 50-percent in a joint venture to be set up following the relevant document signed between the Azerbaijani and Georgian governments to manage the Baku-Tbilisi-Kars (BTK) railway project, Chairman of Azerbaijan Railways Rovshan Rustamov told journalists, Trend reports.
He said that work in this direction has already begun, legal documents have been prepared, and the setup of joint venture is expected in the coming days, and the venture is setup on the basis that the parties own a 50 percent share in it.
According to him, after full completion of the project, all operations will be carried out by this venture.
“The main work of the joint venture is to carry out work related to the project, set tariffs for cargo transportation, cargo transportation and resolve operational issues in general,” Rustamov added.
Meanwhile, BTK is a vital connection in the Middle Corridor, one of Asia's and Europe's commerce routes, and enables continuous railroad communication between China and Europe.
The 850-kilometer-long Baku-Tbilisi-Kars railroad was inaugurated in 2017. The increased relevance of BTK in the regional transportation network is due to the rapid delivery of products from Asia to Europe via Azerbaijan.
Stay up-to-date with more news at Trend News Agency's WhatsApp channel