Bulgaria's Varna to Relocate Old Port

Business | June 26, 2008, Thursday // 00:00

The local administration in Varna received Wednesday the official green light to move the old city port to a new location in the Varna Lake, with a decision voted unanimously by the Municipal Councilmen.

The Varna Municipality would take upon itself the task to accelerate the adoption of the new general urban plan and to organize together with the Ministry of Regional Development and Public Works, a competition for a project to turn the area of the current port Varna-East into a leisure zone.

The expected date for the signing of the memorandum between the State and the local Municipality is July 27.

Financing for the project of EUR 50 M would be provided by the State while the Japanese Government is expected to invest an additional EUR 100 M.

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