Bulgarian Minister: Bankruptcy No Worry for Highway Construction

Business | November 7, 2010, Sunday // 20:18|  views

Bulgaria's Minister of Regional Development, Rosen Plevneliev. Photo by BGNES

The recent bankruptcy of Bulgarian road construction company Moststroy will not in any way adversely affect the construction of Trakiya Highway, assured Minister of Regional Development Rosen Plevneliev Sunday.

Speaking in an interview for Nova TV, Plevneliev actually commented that the bankruptcy might be "one of the steps towards company recovery" and it might be purely due to a "failure of communication" between the company and its bank.

The bankruptcy, which came out of the blue October 7, stirred stock markets in Bulgaria, and raised many questions and some strong suspicions of foul play on the part of company executives.

Moststroy is said to be owned and controlled by well-known Bulgarian tycoon and richest Bulgarian, Vassil Bozhkov.

Moststroy is part of a consortium is in charge of the highway section between Yambol and Karnobat, the so-called Lot 4.

In his Sunday Nova TV interview, Plevneliev assured that work on the other two sections of Trakiya Highway currently built - so-called Lot 2 and Lot 3 - is also according to schedule and they will be ready in time.

Minister Plevneliev in addition defended the overall policy of "reform" that the GERB cabinet is leading, saying that the government has a strong will and determination, but also a willingness to consult and debate with stakeholders.

He shared his view that the most pressing reform that Bulgaria needs is an administrative reform to clearly set off responsibilities of state organs and render the machine more effective.

Minister Plevneliev stated that he has no grand political ambitions for the future, but is working solely as an expert in his field.

Recent image ratings by various agency show ever rising public approval for the work of Rosen Plevneliev as a minister, which has seen him rise among the ministers with top rates of support from citizens.

In addition, PM Boyko Borisov has been of late highlighting "highway construction" and in general infrastructure as a key priority for his cabinet, shifting attention from areas such as the fight against organized crime and corruption, financial stability and the economy, and the social sphere.

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Tags: infrastructure, GERB cabinet, Boyko Borisov, Vassil Bozhkov, Moststroy, lot 4, Trakiya Highway, Rosen Plevneliev, highway


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