About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
Georgia Ratifies USD 575m Azerbaijani Loan for Regional Rail Link
Civil Georgia, Tbilisi / 31 May.'11 / 16:15

The Georgian Parliament ratified on May 31 an agreement with Azerbaijan through which the latter will allocate additional USD 575 million loan to a Georgian state-owned company to complete construction of a railway section, which will link Azerbaijan to Turkey via Georgia.

The loan is allocated to the Marabda-Kartsakhi Railway, a state-owned company established in 2007, which is in charge of the Georgian section of the major regional railway project.

In 2007 Azerbaijan agreed to lend USD 200 million to Georgia to finance construction and rehabilitation of its portion of the railway and with the latest loan total amount will now go to USD 775 million.

The loan, according to the government, will be repaid from the profit received after the new railway is put into operation next year.

Azerbaijan, Georgia and Turkey launched the railway project in 2007. The project envisages rehabilitation of existing railway section from Marabda in Shida Kartli region to Akhalkalaki, a town in Samtskhe-Javakheti region; plus construction of a new, about 30-km long railway section from Akhalkalaki to Kartsakhi at the Turkish border. On the Turkish side, a new 68-km long railway section will be contracted from the town of Kars to the Georgian border. In addition a new railway station will be constructed in Akhalkalaki as part of the project.

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2020, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.