New Container Port Terminal Cconstruction in Varna to Start by End 2008

SofiaEcho, Jan 17, 2008

By the end of January 2008, the Transport and Communications Ministry would prepare a memorandum on the construction of a new container terminal in Varna and the transformation of the Varna East Port into a tourist area, Varna municipal council chair Borislav Goutsanov said.

A joint company of Varna municipality and the state will manage the new port infrastructure, investor.bg said. Private companies could also take part in the new company, but the maximum share of the private companies would not exceed 30 per cent.

The Japanese Central Bank is to fund the construction of the terminal in Varna and of another one in Bourgas. Total costs of the construction is 214 million euro. Some 80 to 90 million euro of the sum will be utilised for the port in Varna.

Japanese Central Bank was to make its final decision on the funding by the end of March 2008, investor.bg said.

Varna container terminal construction should begin by the end of 2008. An area for entertainment will be built at the place of the old port. Construction will be launched in 2009.