Azerbaijan, Baku, May 26/ Trend , E.Ismayilov/
The State Oil Fund of Azerbaijan (SOFAZ) has not yet allocated significant funds to construct the Georgian section of the Baku-Tbilisi-Kars railway this year, SOFAZ Executive Director Shahmar Movsumov said.
Movsumov said major funds have not yet been allocated, but only few funds were allocated to maintain the department, which was created for the project, as well as the design work," Movsumov said.
The SOFAZ has not yet allocated huge funds, because a large-scale construction works in the Georgian site has not yet begun. Desing work is still being conducted in this section.
Movsumov said SOFAZ will allocate $100 million (80 million manat) to build this railway communication in 2009.
Azerbaijan plans to allocate $200 million from SOFAZ to reconstruct the Georgian section of the Baku-Tbilisi-Kars railway. Some $280,000 was allocated to maintain Marabda-Kars Railway LLC, which was provided to pay salaries and office expenses.
The first tranche of 20.7 million manats was granted in 2007. In 2008, SOFAZ allocated 5.3 million manat to finance the construction project of the Baku-Tbilisi-Kars railway in the Georgian territory.
The Baku-Tbilisi-Kars project includes the construction of 105km-railway lines, with 76 kilometres section running via Turkey and 29 kilometres section via Georgia. Moreover, 183 kilometres section of Akhalkalaki-Marabda-Tbilisi railway will be also reconstructed to improve the carrying capacity to 15million tons of cargo per year. It is planned to build in Akhalkalaki a place for the transition of trains from the track existing in Georgia to the European one.
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