Georgian Railway JSC is establishing a joint venture with Azerbaijan Railways CJSC, according to a report from S&P Global Ratings. The joint venture will operate the Georgian part of the Baku-Tbilisi-Kars (BTK) railway.
The BTK railway is being constructed on the basis of the Georgian-Azerbaijani-Turkish intergovernmental agreement.
BTK is expected to start operations in late 2017. The first passenger test train from Turkey to Georgia was conducted in July. The trip, which lasted about 3 hours, ended in the station located in Akhalkalaki, near Georgia.
The peak capacity of the railway will be 17 million tons of cargo per year. At the initial stage, the line is expected to carry 1 million passengers and 6.5 million tons of cargo per year.
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