ياشاسين آذربايجان - Long live Azerbaijan

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Azerbaijani, Georgian and Turkish senior officials have attended the groundbreaking ceremony for Baku-Tbilisi-Kars Railway Project. The ceremony was joined by Heads of States and Governments of Georgia, Turkey and Azerbaijan, APA-Economics reports. Georgian President

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Azerbaijani, Georgian and Turkish senior officials have attended the groundbreaking ceremony for Baku-Tbilisi-Kars Railway Project.

The ceremony was joined by Heads of States and Governments of Georgia, Turkey and Azerbaijan, APA-Economics reports.
Georgian President Mikheil Saakashvili termed the railroad project as “Project of the Century”.

“Today is a historic day. This project will bail Georgia out of the deadlock, by linking it to Europe. Since stop of rail route via Abkhazia through Russia, Georgia has been stripped of main railway networks. Now we will get more modern and faster access to Europe. It is a grand project,” he added.

Turkish President Abdullah Gul said the project will be a model for other countries.

He added that the Baku-Tbilisi-Kars Railway is open for other countries too.

“These projects implemented in the Caucasus are open for others too. Any country can take part in this project,” he noted.
Azerbaijani President Ilham Aliyev said the Baku-Tbilisi-Kars Project is an important project not only for the region but also the world.

“I am sure that this project will be as successful as previous projects. Some organizations were previously skeptical about Baku-Tbilisi-Ceyhan and Baku-Tbilisi-Erzurum Pipelines too. Already, these projects play vital part for energy security of Europe,” he added.

Azerbaijani President also noted that the participating countries showed political will to realize the project although negotiations with a number of international financial institutions didn’t yield any result.

He added that the project joined by three countries are not directed any other country.

“The projects we start are not against anybody. These projects are directed at welfare and interests of out peoples. The time will come when the skeptical countries and institutions will take interest to join this project. This project will ensure security of transportation in the region,” he said.

The three countries agreed in February to build a rail line linking the Azerbaijani capital Baku, the Georgian capital Tbilisi and the Turkish city of Kars.

As per the agreement, Azerbaijan undertook to extend a $200mln loan to Georgia’s Marabda-Karsi Railroad LLC for 25 years at 1% interest rate annually. The first tranche of $50 million has been delivered to Georgia.

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.

The project costs more than $600 million.

Azerbaijan’s Azerinshaatservis is the contractor for Marabda-Karsakhi part (Georgia) of the railroad. Construction of railroads is slated for completion in late 2009.

Experts say Azerbaijan will earn $50 million annually during the initial stage of the project.apa

, Voice of a Nation

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