BTK Railway Steps Up
30 May, 2013
BTK Railway Steps Up

Baku-Tbilisi-Kars railway, projected to be the shortest route between Europe and China will be constructed at more rapid rate than before and it will be completed without impediments. Giorgi Kvirikashvili, Minister of Economy and Sustainable Development of Georgia, sent this message at Georgia-Azerbaijan-Turkey business forum held in Gabala, Azerbaijan on May 25, 2013.

Importance of joint economic and business projects were discussed by around three hundred businessmen from the participant countries. During bi-lateral meeting with his peers Kvirkashvili paid a special
attention on some joint projects including opening of ferry service between Poti port and Samsun, Turkey Port. Among of the priority projects were Baku-Tbilisi-Batumi-Trabzon Road Infrastructure project. The Ministers agreed on setting up a consortium for project implementation and attracting of investments. A special accent fell on the Baku-Tbilisi-Kars (BTK) Railway.
“The last is of strategic importance and it will be constructed at a more rapid rates then it was before,” Kvirikashvili said. According to him, BTK is one of the most important projects to Georgia and Georgian government finds necessary to go ahead with the project. There were problems in reference to coordinates of the project but Georgian parliament had already made them certain. Construction works are underway and works on the tunnel connecting Georgia to Turkey will be restored in coming days.
Georgian minister’s message clarified Georgia’s position [to its project partners of Azerbaijan and Turkey] in conjunction with the BTK questioned by Georgian Primer Bidzina Ivanishvili as soon as he took over his office term in past October after his Georgian Dream political coalition won the parliamentary elections and power shifted. He was concerned that BTK poises threats to commercial benefits of the already active trunk railway of Georgia, connecting Caspian Sea with the Black Sea as well as to Georgian ports that may lose cargos after BTK becomes operational and will insure direct rail connection from Caspian Sea to Europe after undersea-bed railway tunnel in Bosporus strait is through. BTK will compete the sea transportation at Georgian ports handling cargos at the similar direction historically. The project is believed to become operational by end of 2013. The BTK aims to transport cargos from Central Asia and China to Europe and to construct this railway route Georgia took a USD 250 million worth preferential loan from Azerbaijan in 2007 that enhanced to USD 775 by 2012 eventually. The BTK split opinions among Georgian transit and economic sector pundits at the very outset. One part shared Ivanishvili’s concern that Georgian ports and trunk railway might be at loss, another part believes the more routes bring the more profit to any country and BTK will only bring additional profit for existing Georgian railway cannot handle with the increased cargo turnover that can potentially come from Middle Asia and China. But both sides agree that the BTK is of bigger strategic importance to Azerbaijan and Turkey [these two historical allies get a direct railway connection bypassing their mutual political opponent Armenia] rather than to Georgia and the more than doubled loan issue must be scrutinized properly.
“Of course the BTK should be completed but we know no details [provided by government] what was revised in the project and how,” Soso Archvadze, an economic analyst, told Georgian Journal. “The one thing is obvious that BTK is handier to partner countries and we should know why the loan increased so much, things should be more transparent.”

 

Print
Other Stories
The World Digital Mining Summit to be held in Georgia
The summit is scheduled to take place between 21st-23rd September in the Hualing Hotel, Tbilisi, Georgia.
Galt and Taggart - Tourism Boom Continues in Georgia
Tourism has become one of the key drivers for the Georgian economy. Galt and Taggart has recently published research about the Georgian tourism sector in the first half of 2018.
"The worst dream for Putin is that Russians want to live in Georgia"
This year, visitors to the Adjara region would notice that there is a boom in construction in and around Batumi.
Underground gas storage facility to be built in Georgia
KfW, a German government-owned development bank signed a EUR 150 million promotional loan with the state-owned Georgian Oil and Gas Corporation (GOGC) for the construction of the first underground gas storage facility in Georgia.
New gambling rules for Georgia
Georgian lawmakers are preparing a new draft law relating to online-casinos and gambling that will seek to curb gambling addiction in Georgia.
How expensive is it to visit Georgia?
The Georgian Lari (GEL) is the official currency of Georgia and is the only legal means of payment in the entire territory of Georgia.
Trade with the EU and the Commonwealth of Independent States (CIS) has grown significantly
Trade with the EU and the CIS has grown by 26% and 33.5 % respectively, says GeoStat, the Georgian National Statistics Office.
The unemployment rate decreases in Georgia
The unemployment rate decreased in Georgia by 1,9% and amounted to 12.1% in the 2nd quarter of 2018 compared with the previous quarter,
Memorandum of Understanding to be signed between Georgia and Malaysia
According to the Georgian Ambassador to Malaysia Nikoloz Apkhazava, Georgia plans to sign a Memorandum of Understanding (MoU) with Malaysia.
“Blauenstein Georgia” due to expand in Georgia
“Blauenstein Georgia” is planning to open more shops in Georgia. It is an agriculture company that sells meat products, meat and convenience food.
The amount of Direct Foreign Investment rises in Georgia
According to the information of the National Statistics Office of Georgia, the amount of direct foreign investment in Georgia has risen
It’s going to get  harder for foreigners to get residence permit in Georgia
It’s going to get harder for foreigners to get permit of residence in Georgia.
Mziuri Park in Tbilisi to be renovated soon
It was the dream of prominent Georgian writer Nodar Dumbadze that when the original Mziuri park was constructed and opened in 1892 that it should be a park for children,
Winemakers to produce Kvanchkara in its place of origin - Racha
Khvanchakara is a semi-sweet Georgian red wine which originates from Racha, in the western part of Georgia. Kvanchkara is made of two types of grape Mujuretuli and Aleksandrouli.
The level of Georgian wine and Chacha exported has increased
The National Wine Agency of Georgia has recently published statistical information about the level of Georgian wine and Chacha exported between January and July, 2018.
New fire engines to be Manufactured in Georgia
The Acting Head of the Emergency Management Agency Shalva Khutsishvili said that the old Zili fire engines (which were made in the USSR) will be phased out and replaced with new ones, manufactured in Georgia.
Georgia witnesses a record number of tourists
The Georgian National Tourism Administration publishes statistical information about international visits to Georgia.
Canadian businessman plans to build a hotel in Bakhmaro
Canadian businessman Vadim Malishev plans to build a hotel in Bakhmaro resort, Guria, in the western part of Georgia.
Coffee Factory will open in Tbilisi in October
The first coffee factory (which will be located on the Kakheti highway) in Tbilisi will open in October.
Places in Georgia where real estate is the most expensive
The real estate market in Georgia is growing annually. In Tbilisi as well as other regions of Georgia new developments are increasingly taking place.
How much does a vacation cost in Tbilisi?
It is the middle of summer and those who have not yet taken a vacation are looking for an appropriate place for sure!
The price for extreme sports in Georgia
Georgia offers a variety of options to extreme sport lovers.
The number of Georgians who own property abroad increases
The number of foreign properties owned by Georgians is increasing.
How much does Taxi cost in Tbilisi?
Stories how Taxi drivers try to deceive passengers and charge them with more money than they should pay are known for everybody all over the world.
What are the highest paid areas in Georgia
According to the data collected by the National Statistics Office of Georgia in the first quarter of 2018 the highest paid jobs in Georgia are found in the financial and insurance fields.
PHOTO OF THE DAY
Exchange Rates
GEL Exchange Rate
Convertor
21.09.2018
22.09.2018
USD
1
USD
2.6193
2.6216
EUR
1
EUR
3.0693
3.0854
GBP
1
GBP
3.4651
3.4584
RUB
100
RUB
3.9538
3.9340
Other Stories
Recently Toyota rolled out Global Campaign under this slogan that reflects the Olympic and Paralympic Spirit of Encouragement,
A couple from Switzerland combines Swiss tradition and technology with Georgian products. Their cheese is made in the Georgian mountains and sold in local stores and hotels.
It has been more than five years since the residents of Lilo village, near Tbilisi, cannot open their windows.
63 000 GEL was received by the Georgian Agro Export Group which is just a small part of the European Neighbourhood Programme for Agricultural and Rural development.
Georgian entrepreneur Guka Tavberidze, who runs his own business in the UK and does it quite well, has been invited by BBC
The grand opening of 7-star The Biltmore Hotel Tbilisi took place in Georgia’s capital on July 31.
DUSHETI, Georgia – The Georgian government and the World Bank will allocate USD 5.6 million (12 million GEL) to fund
A new Georgian clothing brand named Person has emerged in Georgian market.
Georgia is in the midst of an economic maelstrom, Euronews reports.
Situation at Georgia’s mineral water market is interesting: over the last year, the volume of export has grown by 56 percent. According to “GeoStat”, over $114 million worth of mineral water was sold
GEL Exchange
USD
1
USD
2.6216
EUR
1
EUR
3.0854
GBP
1
GBP
3.4584
RUB
100
RUB
3.9340