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FINAL DECISION ON KARS-AKHALKALAKI-TBILISI-BAKU PROJECT TO BE ADOPTED IN EARLY 2006

Business Materials 10 October 2005 12:47

The Transport Ministers of Azerbaijan, Georgia and Turkey will meet in Turkey in early 2006 to adopt a final decision within the Kars-Akhalkalaki-Tbilisi-Baku project, the Azerbaijani Transport Ministry told Trend .

The feasibility study of the project developed by the Turkish will be over till late 2005. it will allow determination of the exact volume of the work and funds required to implement the project. The meeting will clarify the financial sources.

The funds may be allocated by international finance organizations, but if there is a delay with financing, Azerbaijan, Turkey and Georgia will be able to finance the project themselves. The project is estimated from $360 to 400m.

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