Georgia, Tbilisi / Trend corr. N.Kirtskhalia / David Natroshvili, the Georgian Deputy Minister of Economy, has stated that the ceremony to open construction of the Baku-Tbilisi-Kars railway connecting the transport systems of Georgia, Azerbaijan, and Turkey, will be held in Georgia on 20 August.
The ceremony will be attended by the Presidents of Azerbaijan, Ilham Aliyev, and of Georgia, Mikhail Saakashvili. Prime Minister Rajab Tayyip Erdogan will represent Turkey.
Azerbaijan will allocate $200mln for twenty-five years under 1% annual interest rate to the Georgian Railway of Marabda-Kartsakhi' company for construction of its part of the railway. The Azerbaijani International Bank will allocate the first part of the credit to aforesaid Georgian company. The total volume of credit will be $40mln.
A new railway station along with 29km of track will be constructed in Georgia. Azerbaijan, Georgia, and Turkey have signed a document on the construction of the Baku-Tbilisi-Kars railway in February. The total cost of the project is $425mln.