Major construction company Kalyon Insaat will implement a mega project for a railway line that will connect Asia and Europe, via a connection between Turkey and Azerbaijan. It is about the South Caucasus Transit Corridor.
The Kars-Iğdır-Aralık-Diluku line will be part of the South Caucasus Transit Corridor, known as the Zangezur Corridor, to which the United States has acquired exclusive development rights. Its goal is to strengthen economic ties between Azerbaijan and Armenia and increase electricity exports. The railway will be 224 kilometers long, with 7 stations, 144 underpasses, 27 overpasses, 10 bridges, 3 viaducts and 24 tunnels. The route will start around the 12th kilometer of the Kaps-Tbilisi railway line and end at the Dilyky-Khachchivan border crossing. The project will reduce transit time between Europe and Asia from 18 to 12 days. This will also significantly reduce logistics costs. In fact, a strategic logistics bridge between Central Asia and Europe with an annual capacity of 5.5 million passengers and 15 million tons of cargo will be realized.
The project is key for Azerbaijan, as the corridor will provide a more direct connection with Turkey, and from there with Europe.
In July, our southern neighbor secured EUR 2.4 billion in green financing for the railway line from a group of lenders, including Japan's MUFG Bank, SKN's EKN and Austria's OEKV Export Credit Agencies and a unit of the Islamic Bank for development.
The construction of the railway line will provide a livelihood for 10,000 workers. The project also supports regional industrialization, exports and logistics, strengthening the economic development of eastern Turkey.
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