Kars-Akhalkalaki-Tbilisi-Baku Railway Project Intended to Finish before End of 2008

The implementation of Kars-Akhalkalaki-Tbilisi-Baku railway project will finish before end of 2008, Deputy Minister of Transport of Azerbaijan Musa Panahov stated. In his words, the Georgian party is trying to accomplish works on its lot by that time. “At present financial matters of the project are discussed. The discussions will last till November 15, 2006. The final version of the financial agreement will be under consideration then,” Panahov said. In his words, some $200 million will be necessary to implement the project in Georgia. He reported that the credit will be paid off at the expense of income from transportation. “To build the Turkish part of the projects some $220 million are necessary, while the overall cost is over $400 million. To all appearance, Azerbaijan will take part in the project at its own expense,” Panahov said, reports Novy Region.