Bulgaria Invites Chinese Investors to Build Navigable Canal Varna-RuseBusiness | February 11, 2015, Wednesday // 17:59| views
Varna District Governor Stoyan Pasev, photo by BGNES
Bulgaria has proposed to Chinese investors a project for the construction of a navigable canal between the cities of Varna and Ruse, according to Varna District Governor Stoyan Pasev.
Pasev, as cited by Trud daily, made clear Wednesday that a total of three projects for the development of Bulgaria’s northeastern region had so far been presented to the Chinese Ambassador to Bulgaria.
He said that the three projects envisaged the construction of a navigable canal connecting the Black Sea to the Danube River, a motorway, and a railway line.
The District Governor of Varna also specified that the idea was not new, adding that the project for connecting the cities of Varna and Ruse dated back to 1972.
Pasev argued that the construction of a navigable canal between the two cities would require an investment of around BGN 3.6 B.
He noted that Chinese investors were aware of the fact that there was no opportunity for a state guarantee for such a project.
Pasev insisted that the large-scale scheme would be important not only for Bulgaria but for the entire EU.
He suggested that Chinese investors had expressed interest in the project for a navigable canal, adding that talks were yet to be held on the matter.
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