Transport Minister to visit Georgia

The Ministry secretariat told the APA that the minister will meet with his Turkish counterpart, Binali Yildirim and Georgian counterpart, Giorgi Arveladze.

In Tbilisi the Ministers are going to sign a final intergovernmental agreement on construction of Baku-Tbilisi-Akhalkalak-Kars (BTAK) railway link.

Besides, a Framework Agreement and a Loan Agreement will be concluded during the visit.

International Bank of Azerbaijan and Georgia's Marabda-Karsi Railroad LLC will sign a $200mln unsecured loan agreement, which will be used to finance construction of Georgian part of the project.

The preliminary cost of the project is estimated at US $420mln ($215 for Turkey and $205 for Georgia).

Azerbaijan agreed to extend a $200mln unsecured loan to Georgia's Marabda-Karsi Railroad LLC for 25 years at 1% interest rate annually.

Georgia (29km) and Turkey (76km) will lay a 105km-long railway line, moreover, Georgia will rehabilitate 183km-long Akhalkalak-Marabda-Tbilisi railroad.

Turkey's Yuksel Domanik Company carried out the technical and economic assessment of the project.

Azerbaijani President Ilham Aliyev is expected to pay a visit to Tbilisi on Feb. 7.