Austrian, Turkish Railway Freight Carriers Sign MoU with Azerbaijan
Friday, December 15(Baku) -- Representatives of Azerbaijan Railways, Rail Cargo Austria and Turkish State Railways signed a memorandum of understanding (MoU) in Baku for the development of a high-speed railway network designed to connect China with Europe.
Azerbaijan is banking on its ability to be a major cargo transport hub, with the Trans-Caspian International Transport Route (TITR), the North-South and South-West transport corridors, as well as the newly commissioned Baku-Tbilisi-Kars (BTK) railway all crisscrossing the country.
The agreement on creation of the TITR was signed in April 2016 in Baku by the railway authorities of Azerbaijan, Georgia and Kazakhstan.
About 300,000-400,000 containers are expected to be transported via the Trans-Caspian international transport route by 2020.
The North-South transportation corridor will serve as a link connecting the railways of Azerbaijan, Iran and Russia moving 5 million tons of cargo per year, while the BTK railway’s annual capacity is set for 17 million tons of cargo. (azernews.az)