September 5 (SeeNews) - Bulgaria said on Tuesday it will sign a memorandum of understanding with Greece 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 project includes the construction of a double-track electrified railway featuring an integrated European Rail Traffic Management System (ERTMS), the Bulgarian government said in a statement after approving the draft MoU at a weekly meeting.
The document, to be signed by the transport ministers of Bulgaria and Greece in the Greek city of Kavala on Wednesday, 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 by rail the Greek cities of Thessaloniki, Kavala and Alexandroupolis to Burgas, Varna and Ruse in Bulgaria. It is expected to attract large investors from the Middle East, China, Russia and other major markets, the government said.