Chinese Companies Interested in Bulgaria's Cherno More Motorway

Business | January 14, 2014, Tuesday // 20:09|  views

Bulgaria's President Rosen Plevneliev, photo by BGNES

Bulgarian President Rosen Plevneliev has informed that two leading state-owned Chinese construction companies have a concrete proposal for building the Cherno More motorway.

The construction of the Cherno More (Black Sea) motorway is among the projects proposed by Bulgaria competing for funding under China's initiative for cooperation with the countries of Central and Eastern Europe which envisages a credit line of USD 10 B, according to Plevneliev's press office.

During Plevneliev's visit to China, he met with President Xi Jinping, and the two heads of state agreed on the goal to double the trade volume over the five years to come.

Speaking at a Bulgarian-Chinese business forum in Beijing, Plevneliev drew attention to the growth and positive trends registered in the sphere of bilateral economic cooperation, adding that trade turnover had increased fourfold over the past ten years, while Bulgarian exports to China had doubled in 2012 on an annual basis.

Over 300 representatives of 150 Chinese and 30 Bulgarian companies took part in the event, including companies specializing in the IT industry, textile industry, the production and distribution of food products and wine, transport, trade, tourism, renewable energy.

Plevneliev pointed out that Bulgaria was working on projects for 21 new industrial and hi-tech zones, adding that the country would provide China the opportunity to build its companies there.

Bulgaria's head of state cited the Bozhurishte zone and the industrial zone and cargo airport in Stara Zagora as the most important projects, stressing that they were located on three European transport corridors.

Other projects discussed by the two heads of state were the construction of a bridge and a hydropower plant on the Danube River in the region of Nikopol – Turnu Magurele, the tunnel under the Shipka Peak, granting Bulgarian Black Sea and Danube ports under concession to Chinese companies.

Tuesday Plevneliev also revealed that the two countries have reached specific agreements to boost trade exchange and economic cooperation in the field of agriculture and food production.

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Tags: Rosen Plevneliev, Bulgarian President, China, Xi Jinping, bilateral relations, industrial zones, Cherno More Highway


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