EU TO GRANT EUR 153 M FOR RAILWAY

Business | October 4, 2001, Thursday // 00:00

EUR 153 M will be granted from the EU-funded ISPA program for the modernization of the railway between Plovdiv and Svilengrad. The construction of the line will cost EUR 340 M. EUR 150 M from that sum will be granted by the European Investment Bank /EIB/. The first tranche of the EIB loan will total EUR 80 M. The state is to grant EUR 37 M for the project. After the up grade, the Plovdiv-Svilengrad railway will become one of the most modern in Eastern Europe. Trains will be able to go at 160km/h. Only EU-based companies will be able to bid in the construction tenders for the projects. The tenders will take place in spring, 2002.

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