Georgia to go ahead with Tbilisi Railway project without EBRD fund

10 November 2011 (Last Updated November 10th, 2011 18:30)

Georgian Railway is planning to finance the construction on the Tbilisi Railway Bypass project from its own resources and without funds from the European Bank for Reconstruction and Development (EBRD).

Georgian Railway is planning to finance the construction on the Tbilisi Railway Bypass project from its own resources and without funds from the European Bank for Reconstruction and Development (EBRD).

In 2010, EBRD had agreed to provide a €100m loan to fund the project.

Georgian Rail said the available revenue structure of Georgian Railway doesn't require any additional credits, and there was no necessity in using the EBRD credit.

The project involves 27km of double track electrified railway line bypassing Tbilisi, which will branch off from the present main line at Zahesi and join the existing Kakheti railway line near Lilo.

The project will help in reduction of traffic in the Georgian capital.