Presidential administration: Up to 1,000 people engaged with Baku-Tbilisi-Kars railway construction in Georgia
Georgia, Tbilisi, June 14 / Trend N. Kirtskhaklia /
At present, up to 1,000 people are engaged with the construction of the Baku-Tbilisi-Kars railway in Georgia. The figure will increase up to 4,000 people soon, spokesperson for the Georgian president Manana Manjgaladze said at a briefing today.
"The construction of the Baku-Tbilisi-Kars railway is one of the biggest investment projects in Georgia, which employs our citizens," she added.
Azerbaijan has allocated $575 million to Georgia for 25 years at an interest rate of five percent additionally to construct the Georgian section of Baku-Tbilisi-Kars railway. The allocated funds will be spent to construct and rehabilitate the railway section of Tetritskaro-Akhalkalaki, to construct the railway station in Akhalkalaki and another railway infrastructure.
This loan has been allocated to the Kartsakhi-Marabda company. It is not a public debt. This loan will be returned from the profit received as a result of the realization of the project after commissioning the railway.
The first tranche worth $200 million has been also allocated to the Georgian side for 25 years at an annual rate of one percent.
According to amendments made to an agreement which was signed between the Azerbaijani and Georgian governments with regard to work on funding, design, construction, reconstruction and rehabilitation of the Marabda-border with Turkey (Kartsakhi) railway section, the total amount of credit line amounted to $775 million.
The State Oil Fund of Azerbaijan (SOFAZ) finances the construction and rehabilitation of the Georgian section of the Baku-Tbilisi-Kars railway.
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.