Azerbaijan Allocates Funds to Georgia on Baku-Tbilisi-Kars Project

Business Materials 18 April 2007 18:57 (UTC +04:00)

Azerbaijan, Baku / corr. Trend S.Aliyev / The Transport Minister of Azerbaijan, Ziya Mammadov, said on 18 April that Azerbaijan has already presented $50 mln to Georgia for the construction of the railway Baku-Tbilisi-Kars.

Presently the Turkish Yuksel Domonik is preparing the feasibility study for the Georgian part of the railway and will complete it in mid of May. Further, a tender is planned to be announced. Thus, the direct construction works are supposed to commence in June.

Earlier, the President of Azerbaijan had signed a decree "On measures within new railway project of Baku-Tbilisi-Kars." According to the order, a State Commission was established headed by the Transport Minister of Azerbaijan, Ziya Mammadov. The Commission also included representatives of the Ministry of Finance, Foreign Ministry, Ministry of Economic Development, Heads of the State Oil Fund, State Railway Department and International Bank of Azerbaijan. The Transport Ministry has been appointed as co-ordinator of the project from the Azerbaijani side. Azerbaijan will allocate $200 mln credit to Georgia through the Ministry. These finances will be presented by the State Oil Fund of Azerbaijan.