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Bulgaria, Greece to sign MoU on joint railway project

Bulgaria, Greece to sign MoU on joint railway project Pres Panayotov/

SOFIA (Bulgaria), July 12 (SeeNews) - Bulgaria and Greece will sign a memorandum of understanding on the development of a high-speed railway corridor linking major Greek Aegean ports with Bulgarian ports on the Danube river and the Black Sea coast, the government in Sofia said on Wednesday.

The project includes the construction of a double-track electrified railway with an integrated European Rail Traffic Management System (ERTMS), the government said in a statement after approving the draft MoU at a weekly meeting. The document defines the preparatory works for the project and the joint management of the transport corridor by Bulgaria and Greece.

The project aims to combine road, rail, river and sea transport by linking the Greek cities of Thessaloniki, Kavala and Alexandroupolis to Burgas, Varna and Ruse in Bulgaria. It is expected to attract large investor interest from the Middle East, China, Russia and other major markets, the government said.