Bulgarian Blue-Chip Builder Holding Roads Wins 46.4 Mln Euro in Road Construction Deals

The company will build 42 kilometres of roads in southwestern Bulgaria and 86.2 kilometres in the eastern part of the country within 24 months, it said in two separate statements.

The two projects are part of a larger programme for the construction of transit roads in Bulgaria financed by the European Investment Bank and the state budget. The value of the deal does not include value-added tax.

Shares of the company, part of the benchmark SOFIX index of the Bulgarian bourse, closed 3.14% higher at 3.28 levs ($2.14/1.68 euro) in a volume of 21,163 stocks on Friday. The statements were released before the end of bourse trading.

Bulgaria, a European Union member since 2007, plans to pour billions of euro into upgrading its worn-out infrastructure through 2015 to sustain fast economic growth. The country stands to receive almost 7.0 billion euro from the EU's cohesion and structural funds through 2013.

($ = 0.7831 euro)