Azerbaijan, Georgia to establish joint venture to manage Baku-Tbilisi-Kars railroad

Chairman of the Azerbaijan Railways CJSC Rovshan Rustamov has told journalists that under the document signed between the governments of Azerbaijan and Georgia, a joint venture will be established to manage the Baku-Tbilisi-Kars railroad.

According to him, after the works under project completed, all operations will be carried out by the joint venture, AZERTAC reports.

"The works in this regard have already started, legal documents have been drafted and the joint venture is scheduled to be established in the coming days. The joint venture is being set up on the condition that both parties will hold a 50 per cent stake in it. The joint venture will mainly carry out works related to the project, set tariffs for cargo transportation, address all transportation issues," Rustamov noted.