More Infrastructure Improvements in Bulgaria

Bulgaria's Dnevinik newspaper reports that a number of highways and all airports, excluding newly renovated Sofia Airport, are set to be modernized during the period between 2007 and 2013.

The work will be undertaken using EU infrastructure development funds. More than one billion euros is targeted from EU funds for transport projects to help countries like Bulgaria achieve EU standards. Many key highways and all airports, as well as Trakia, Maritsa, Strouma and Cherno are currently earmarked for improvements.

Bulgarian Regional Development Minister, Assen Gagauzov, said project schedules will be drafted to speed up the investment process and the Cabinet is expected to accept the plan in April, after which Brussels should give its approval.

This month also, big news is the Bulgarian roads executive agency is signing a contract for the new Liulin highway.  The highway is being built to connect Vidin, Sofia and Kulata.  The new initiative forms part of what is called the European Corridor 8 Scheme which will link Gueshevo, Kiustendil, Sofia and Bourgas with new highways. Works will comprise 26 bridges and viaducts as well as various important tunnels and junctions with work targeted for completion by 2010.

In addition, on July 24th works for a new road connecting Brussels Boulevard to the new passenger terminal at Sofia International Airport were launched, with construction commencing by September and completion expected within one year.

Infrastructure developments in Bulgaria such as these demonstrate Bulgaria’s full intent to meet EU criteria by the end of this year.  Repercussions for property investment are ever positive and investor confidence continues to ride high, keeping Bulgaria up there in line with other new EU states.