In January-September 2016 the State Oil Fund of Azerbaijan to finance the construction of the railway Baku-Tbilisi-Kars (BTK) allocated $ 31.5 million. This was reported on the Fund’s website.
Since the beginning of the project financing (2008) the Oil Fund has allocated $ 619.8 million for it.
In accordance with the agreement signed between the governments of Azerbaijan and Georgia, the funds through the International Bank of Azerbaijan have been allocated to LLC Marabda-Kartsakhi, created for the design, construction, rehabilitation, reconstruction and operation of the railway section Marabda - Border with Turkey and the relevant infrastructure.
Yesterday the President of Azerbaijan Ilham Aliyev stated that the opening of the Baku-Tbilisi-Kars railway will be held before the end of this year.
Passenger trains from Baku to Turkey will start to function only in the middle of 2017. -12B--
Economics
-
On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
-
Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
-
Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
-
While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
Leave a review