The cornerstone-laying ceremony of Baku-Tbilisi-Kars Railway to be held in October
The cornerstone laying ceremony of the railroad at Turkey-Georgia border is due to be held in the first ten-day of October.
“By this year-end the contract winner company will be engaged in land preparation activities. Laying rails and sleepers are planned for march-April, 2008,†he added.
The final intergovernmental agreement on construction of Baku-Tbilisi- Kars railway link was inked in February this year.
As per the agreement, Azerbaijan extended a $200mln loan to Georgia’s Marabda-Karsi Railroad LLC for 25 years at 1% interest rate annually.
The loan will be spent on construction of a 29km long railroad in Georgia, a station in Turkish-Georgian border and rehabilitation of old railway. /APA-Economics/
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