New Container Terminals in Varna, Burgas Ports to Be Built with Japan Loan

Business | August 9, 2008, Saturday // 00:00
Bulgaria New Container Terminals in Varna, Burgas Ports to Be Built with Japan Loan: New Container Terminals in Varna, Burgas Ports to Be Built with Japan Loan The present container terminals of the Port of Varna will be moved further from the city center, and a tourist area will be built in their place. Photo by port-varna.bg

The Bulgarian government is going to borrow JPY 36,932 B, equal to about EUR 220 M, from Japanese banks in order to construct new container terminals at the country's two key Black Sea ports of Varna and Burgas.

The loan must be paid up in 25 years; it has a seven-year gratis period, and an annual interest rate of 1,4%.

The government's agreement with these terms of the loan was published Friday in the State Gazette.

The container terminals of the port of the Bulgarian Black Sea capital of Varna will be moved to the Maksuda Quarter, whereas a new tourist zone will be created on there present territory. It will include a yacht port, aquarium, hotels, restaurants, and recreation facilities.

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