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Azerbaijan to have fifty percent ownership stake in Baku-Tbilisi-Kars railway

4 March 2024 15:39 (UTC+04:00)
Azerbaijan to have fifty percent ownership stake in Baku-Tbilisi-Kars railway
Ulviyya Shahin
Ulviyya Shahin
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Azerbaijan will have a 50% ownership stake in the institution created for the Baku-Tbilisi-Kars railway, according to the relevant document signed between the governments of Azerbaijan and Georgia, Azernews reports, citing the President of the Azerbaijan Railways CJSC, Rovshan Rustamov, telling in an interview with local journalists.

According to him, once the project works are completed, all operations will be carried out by this institution.

"Work has already begun in this direction, legal documents have been prepared, and the creation of the joint institution is expected in the coming days. The joint institution will be established with both parties having a 50% ownership stake. The main responsibilities of the joint institution include the implementation of project-related activities, determining tariffs for transportation, carrying out cargo transportation, and resolving operational issues comprehensively," emphasized Rustamov.

It is worth noting that the Baku-Tbilisi-Kars railway is a major transportation project that connects Azerbaijan, Georgia, and Turkiye. It serves as a crucial link in the transportation network, facilitating the movement of goods and passengers between the Caspian Sea and Europe.

The BTK railway runs from Baku, the capital of Azerbaijan, to Kars, a city in northeastern Turkiye. The route passes through Tbilisi, the capital of Georgia, providing a direct rail link between the Caspian Sea and the Mediterranean Sea.

The railway facilitates the efficient transportation of goods, including energy resources, manufactured products, and other commodities.

It contributes to the development of economic ties between Azerbaijan, Georgia, and Turkiye, as well as other countries connected to the transportation corridor.

The BTK railway was officially inaugurated in October 2017 with the participation of leaders from Azerbaijan, Georgia, and Turkey.

The railway has since been operational, handling both freight and passenger trains.

The success of the BTK railway has spurred discussions about potential expansions and further integration with other regional and global transportation networks.

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