Tbilisi railway bypass project restructured
By Messenger Staff
Friday, November 11Following extensive discussions between both parties, Georgian Railway LLC will pursue the construction of a new bypass to re-route rail traffic outside the centre of Tbilisi, without any financing from the European Bank for Reconstruction and Development.
The company has chosen to restructure the implementation of the project, designed to improve the efficiency and safety of rail operations and free more than 70 hectares of land in the Georgian capital for urban renewal projects.
The EBRD had agreed last year to provide a Euro 100 million loan to help fund new tracks and develop the key east-west freight corridor, used for the transportation of oil and other products from Azerbaijan and central Asia to Georgia’s Black Sea ports. They will now consider supporting other priority projects with the railways. Since the start of operations in Georgia, EBRD has invested approximately Euro 1.6 billion in 140 projects, and remains committed to developing the country’s infrastructure sector.