Georgia suspends Tbilisi railway bypass project
The Georgian government intends to suspend the Tbilisi Railway Bypass Project until a final decision made on a plan on movement of the railway lines from the centre of Tbilisi, Georgian Prime Minister and Minister of Economy George Kvirikashvili told journalists.
"The final decision hasn't been officially made. We believe that we will suspend this project for a certain period and if a better decision is made, we will return to it," Kvirikashvili said.
Tbilisi Mayor Gigi Ugulava , who has initiated the project, severely criticized this decision, noting that the interest of the whole capital is sacrificed for the interest of one company.
"The implementation of a rail bypass project would pave the way for the urban development of Tbilisi. I want to ask the government to come to the negotiation table and discuss the situation when on one side of the scale there is the city and its interests and on the other, the interests of one company," Ugulava noted.
Ugulava said that the rail bypass project "may be not so profitable for Georgia, but it is inexpedient to stop it when around 80 percent has already been implemented.
"I believe that it is also worth financing the remaining 20 per cent," he said.
The project launched in 2010 requires dismantling of the present railway track between Didube in the north and Navtlughi in the south. This includes the shunting areas, rail yards, rail sidings, depots and other infrastructure on the route. According to the project, over 70 hectares of land will be freed in the city centre for urban development projects.
The project is estimated to cost €360m ($499.1m). Georgian Railway issued five-year Euro bonds worth $250m to finance the project.