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BAKU REDUCES BAKU-TBILISI-KARS FINANCING
News.am
18:29 / 10/09/2009
The State Oil Fund of Azerbaijan will reduce the financing of
Baku-Tbilisi-Kars railway construction project from AZN 80m to AZN
30m as part of a state credit. Azerbaijani President Ilham Aliyev
signed a decree on budget restructuring October 7. The funds will
be allocated to internal projects, Azerbaijani President's website
reported. The expenses on improving the social conditions of refugees
and internally displaced people will be increased from AZN 80m to 90m.
The decision aroused a kickback by local experts. Thus, commenting
on the President's decision, the Chairman of Center for Social and
Economic Development Vugar Bayramov told Echo (Russian-language
daily) that the fact indicates that Azerbaijan is not so interested
in developing the initiative.
According to him, the project's financing probably was reduced in the
context of Armenia-Turkey reconciliation. Simultaneously, according
to some statements, the budget of the State Oil Fund can be cut
next year. "Under the 2010 state budget, the oil price is to total
U.S. $45/per barrel, which is indicative of an expected reduction
in oil revenues in 2010." Thus, the reduction in oil revenues is
inevitable.
Baku-Tbilisi-Kars railway transport corridor involves the construction
of 98-km Kars- Akhalkalaki railway, with 68 km in Turkish and 30 km
Georgian territory. The reconstruction of Akhalkalaki-Tbilisi section
is also required. The preliminary estimate of the project is U.S. $
422m with U.S. $ 202m for the Georgian part and U.S. $ 220 for Turkish
one. The project is aimed at communication bypass of Armenia.
News.am
18:29 / 10/09/2009
The State Oil Fund of Azerbaijan will reduce the financing of
Baku-Tbilisi-Kars railway construction project from AZN 80m to AZN
30m as part of a state credit. Azerbaijani President Ilham Aliyev
signed a decree on budget restructuring October 7. The funds will
be allocated to internal projects, Azerbaijani President's website
reported. The expenses on improving the social conditions of refugees
and internally displaced people will be increased from AZN 80m to 90m.
The decision aroused a kickback by local experts. Thus, commenting
on the President's decision, the Chairman of Center for Social and
Economic Development Vugar Bayramov told Echo (Russian-language
daily) that the fact indicates that Azerbaijan is not so interested
in developing the initiative.
According to him, the project's financing probably was reduced in the
context of Armenia-Turkey reconciliation. Simultaneously, according
to some statements, the budget of the State Oil Fund can be cut
next year. "Under the 2010 state budget, the oil price is to total
U.S. $45/per barrel, which is indicative of an expected reduction
in oil revenues in 2010." Thus, the reduction in oil revenues is
inevitable.
Baku-Tbilisi-Kars railway transport corridor involves the construction
of 98-km Kars- Akhalkalaki railway, with 68 km in Turkish and 30 km
Georgian territory. The reconstruction of Akhalkalaki-Tbilisi section
is also required. The preliminary estimate of the project is U.S. $
422m with U.S. $ 202m for the Georgian part and U.S. $ 220 for Turkish
one. The project is aimed at communication bypass of Armenia.