The time of cargo transportation between Georgia and Azerbaijan by rail will be reduced by 4 hours.
Report informs referring to the Asian Development Bank (ADB), one of the partners of the Georgian Railway Modernization Project, that after the implementation of the project, the average time of arrival of freight trains from the Azerbaijani border to the port of Batumi will be reduced by 4 hours.
Last year, Georgian Railways JSC placed green bonds on the London Stock Exchange for the first time, the amount of funds raised amounted to USD 500 million. ADB was one of the key partners in the deal, providing $50 million.
As a result of the modernization of the Georgian railway network, the annual volume of cargo transportation will increase from 27 million tons in 2020 to 48 million tons in 2024.