Kars-Akhalkalaki-Baku railway project likely to be signed in FebruaryJanuary 26, 2007 - 19:04 AMT PanARMENIAN.Net - The final intergovernmental agreement on construction of the Baku-Tbilisi-Akhalkalaki-Kars (BTAK) railway link is expected to be concluded in February. Azerbaijan Transport Ministry said the Presidents of Azerbaijan, Georgia and Turkey are scheduled to meet in Tbilisi to sign three documents - a framework agreement, terms agreement and loan agreement. The Ministry described the discussions held by the Azeri and Georgian delegations as fruitful. The parties agreed on the amount and procedure of the loan Azerbaijan is going to lend to Georgia for funding construction of Georgian part of the railway line. As per the agreement, Azerbaijan is going to extend a $200 mln unsecured loan to Georgia's Marabda-Kars Railroad LLC for 25 years at 1% interest rate annually. The parties agreed that construction of Georgia parts of the project (98 km) will commence by July, 2007. The preliminary cost of the project is estimated at US $420 mln, reports APA. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Ameriabank's Trade Finance portfolio enriched with four prestigious awards from EBRD and IFC Ameriabank received the awards from international financial institutions in recognition of its trade finance operations. Armenian Economy Minister to make trip to UAE May 20-22 A delegation led by Minister of Economy Gevorg Papoyan will travel to the UAE capital of Abu Dhabi on May 20-22 Armenia Security Council chief traveling to Qatar Secretary of the Security Council of Armenia Armen Grigoryan will travel on a working visit to Qatar. Pillars installed in Armenian border village of Kirants In the Armenian village of Kirants, three border markers have been installed, and border guards stand next to them. |