The Ruse-Thessaloniki Railway Corridor will Cost at Least BGN 2.1 Billion.

Business » INDUSTRY | September 7, 2017, Thursday // 11:31| Views: | Comments: 0
Bulgaria: The Ruse-Thessaloniki Railway Corridor will Cost at Least BGN 2.1 Billion.

More than BGN 2.1 billion will be needed for Bulgaria to build a railway corridor connecting Ruse and the Greek city of Thessaloniki. This was announced by Transport Minister Ivaylo Moskovski to Nova TV. Yesterday Bulgaria and Greece signed a memorandum for the construction of the corridor connecting the Danube, the Black Sea and the Aegean Sea.

From the Bulgarian side the corridor will pass through Rousse, Varna, Bourgas, Stara Zagora and Svilengrad. The modernization of the existing rails and the completion of the necessary routes and facilities in Bulgaria will cost EUR 1.07 billion, according to the transport department's calculations.

For comparison, at present, BDZ's debts amount to about BGN 400 million - less than 1/5 of the amount needed.

The ports of Bulgaria and Greece should have the so-called intramodality - the ability to transport people and goods from one mode of transport to another, explained Moskovski.

Funding for the project is about negotiating with the European Commission and the European Central Bank. It may be implemented under the Juncker plan - the strategic investment system introduced by the current President of the European Commission, the transport minister said.

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Tags: Bulgaria, greece, railway
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