Sofia Negotiates for EUR 114 M EIB Loan for Metro Construction

Sofia Municipality intends to negotiate with the European Investment Bank (EIB) for a EUR 114 M loan for Sofia subway projects.

Sofia Deputy Mayor, Minko Gerdzhikov, will ask the city council to authorize the Mayor, Boyko Borisov, to negotiate for a structural long-term aid loan.

EUR 14 M (no Value Added Tax - VAT, included) will be used for the construction of subway station "St. Nedelya", and a four level underground parking lot. The project is due to start 2009 and will be completed in 2 years.

The construction of "James Boucher" station will cost EUR 18 M, and is planned to start in June 2009.

The construction price for the subway line from Sofia Airport to Tsarigradsko Shose Bul. is estimated at EUR 48 M. Almost all pre-construction phases are completed, and it should be built in 3 years starting 2010.

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