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Parliamentary Committee of Georgia Approved Project of Railway Line Baku-Tbilisi-Kars

Business Materials 14 March 2007 15:44 (UTC +04:00)

Georgia, Tbilisi / corr. Trend N.Kirskhalia / The Parliamentary Committee for Sectoral Economy and Economic Policy of Georgia approved the project of the railway line Baku-Tbilisi-Kars, Trend Special Correspondent in Tbilisi reports.

In addition, the members of the Committee agreed upon the approval of the agreement on the financing terms and principles, projection, construction, rehabilitation-construction and exploitation of the railway section Marabda-Turkey. The first agreement aims to raise the efficiency of the transport contacts, assist in finding an access to the international market of railway service. According to the second agreement, Azerbaijan will allocate $200 mln credit for the construction, reconstruction and rehabilitation of the section. The credit is given for a period of 25 years and with an interest rate of 1%.

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