Sofia, Greece in Negotiations Over Railway Connection Between Bulgarian, Greek PortsIndustry | September 5, 2017, Tuesday // 16:39| views
Bulgarian Minister of Transport Ivaylo Moskovski has said that on 6 September in Kavala, Greece, an intergovernmental memorandum will be signed between Bulgaria and Greece for a new railway connection between the Greek ports of Thessaloniki, Kavala and Alexandroupolis and the Bulgarian ports of Burgas and Varna on the Black Sea, and Ruse on the Dunabe River.
The project includes the construction of a double-track electrified railway featuring an integrated European Rail Traffic Management System (ERTMS), the Bulgarian government said in a statement after approving the draft MoU at a weekly meeting.
The document, to be signed by the transport ministers of Bulgaria and Greece in the Greek city of Kavala on Wednesday, defines the preparatory works for the project and the joint management of the transport corridor by Bulgaria and Greece.
The Bulgarian section will cost roughly EUR 1 billion, and the Greek one – about EUR 4 billion.
The project is expected to attract many investors and to be financed by the Juncker Plan or to prompt the interest of the European Investment Bank and other large banks.
The project aims to combine road, rail, river and sea transport by linking by rail the Greek cities of Thessaloniki, Kavala and Alexandroupolis to Burgas, Varna and Ruse in Bulgaria. It is expected to attract large investors from the Middle East, China, Russia and other major markets, the government said.
Source: the Bulgarian National Radio and SeeNews.