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 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". The earthquake caused a temporary blackout, damaged many buildings and closed a number of rural roads. Partner news | Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. Aliyev says no need for mediators in Armenia-Azerbaijan process Azerbaijani President Ilham Aliyev believes that Baku and Yerevan do not mediators in the process of normalizing relations. Aram I supports Karekin II’s “patriotic position” Catholicos of the Great House of Cilicia Aram I has expressed support for the Mother See of Holy Etchmiadzin. |