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Sovereign Wealth Funds Briefing - Categorized | Investment

Azerbaijan to provide additional funds to Baku-Tbilisi-Kars railway project

Posted on 30 September 2010

From News.am: The Azerbaijani Government allocated a U.S. $200m credit to Georgia for the work on the Georgian section of the railway. The funds were provided from the State Oil Fund of Azerbaijan (SOFAZ) for 25 years, at an annual interest rate of 1%.
A new, 105-km-long section is to be constructed under the project, with a 76-km-long section to run through Turkey and a 29-km-long one, through Georgia. Also, the Akhalkalaki-Marabda-Tbilisi section will be renovated, which will increase its annual capacity up to 15m tons……………………………………….Full Article: Source

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