SeenewsSeenews
Search
Seenews
AlertsSeenewsSeenews
Searchclose
TOPICS
arrow
COUNTRIES
arrow
INDUSTRY
arrow
Economy
arrow
Browse Economy
Mix and match your focus countries with our advanced search
Investments
arrow
Browse Investments
Mix and match your focus countries with our advanced search
Deals
arrow
Browse Deals
Mix and match your focus countries with our advanced search
Tech
arrow
Browse Tech
Mix and match your focus countries with our advanced search
Green
arrow
Browse Green
Mix and match your focus countries with our advanced search
0/5
You have 5 free articles left this month
You have 0/5 free articles
Sign up to get 5 more free articles this month
SIGN UP
arrow
LOGIN
arrow

Bulgaria awards construction of last 89km of Hemus motorway to Avtomagistrali

Dec 20, 2019, 12:11:33 PMArticle by Aleksia Petrova
share
December 20 (SeeNews) - Bulgaria's Road Infrastructure Agency (RIA) said on Friday that it has awarded a contract worth 1.15 billion levs ($653.7 million/588 million euro), VAT excluded, for the design and construction of the remaining 88.9 kilometres of Hemus motorway to state-owned Avtomagistrali.

Bulgaria awards construction of last 89km of Hemus motorway to Avtomagistrali
Photo: Bulgaria's Road Infrastructure Agency/ All rights reserved.

The 88.9-km section begins near the Hemus motorway junction with road I-5 near the city of Veliko Tarnovo, in north-central Bulgaria and runs eastwards to the Buhovtsi-Belokopitovo section, which is currently under construction, RIA said in a statement.

The completion of Hemus motorway is a main priority in the management programme of Bulgaria's government as the future of northern Bulgaria and the modernisation of the region depends on the construction of the motorway which will create a fast and safe road link between the capital city of Sofia and Varna, on the Black Sea coast, RIA noted.

Earlier in December, Bulgaria's government pledged to allocate 1.38 billion levs for the design and construction of the 88.9-km section. The government will transfer 483 million levs to the regional development ministry's 2019 budget to finance the works, it said at the time.

The state funding will finance the design and construction of the motorway section by 2022.

Last year, Bulgaria signed a 1.3 billion levs contract with Avtomagistrali for the construction of some 134 km of Hemus motorway - a project that is still ongoing.

(1 euro = 1.95583 levs)

Your complete guide to the emerging economies of Southeast Europe. From latest news to bespoke research – the big picture at the tip of your fingers.