Azerbaijan, Baku, April 25 / Trend, N. Ismayilova /
The Baku-Tbilisi-Kars railway, which should unite the railway systems of Azerbaijan, Georgia and Turkey must be completed within the deadline, Georgia's Economy and Sustainable Development Minister Vera Kobalia said Monday in an interview with Trend during her one-day visit to Azerbaijan.
"Baku-Tbilisi-Kars railway is an important project for Georgia and for all countries that are involved in it. Today we discussed this area of cooperation with the Minister of Transport of Azerbaijan. This project must be completed in the terms that were set at the very beginning", said Kobalia.
According to her, despite the fact that there were pauses and some other obstacles in the implementation of this project, currently the work on the project is underway in full force.
"I think we can complete the project over the next year and a half. The issue of additional financing is being discussed today and so far the relevant contract has not been signed yet," she said.
As it was stated earlier by the Azerbaijani side, in this case the question is about allocating additional funds amounting to about $ 500 million.
Azerbaijan has already allocated a $200-million loan from the State Oil Fund of the Azerbaijan Republic to construct the section. The loan covers 25 years with an annual rate of one percent.
Interest rate on the second loan is expected to be increased to five percent.
A new 105-kilometer railroad branch will be constructed as a part of the Baku-Tbilisi-Kars Railway. About 76 kilometers will stretch via Turkey, 29 kilometers through Georgia. Moreover, an Akhalkalaki-Tbilisi-Marabda railway section will be reconstructed in Georgia to increase transport capacity up to 15 million tons of cargo a year. A point of train transition from the existing train tracks in Georgia to the European one is planned to be built in Akhalkalaki.
The corridor's peak capacity will hit 17 million tons. Initially, its capacity will reach 1 million passengers and 6.5 million tons of cargo.