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21.07.2014 16:32
Construction of Hemus Motorway Might Be Suspended
Bulgaria’s Road Infrastructure Agency seeks financing from the budget in order to pay delayed debts to construction contractor

  • © Road Infrastructure Agency of Bulgaria

Bulgaria’s Road Infrastructure Agency (RIA) might have no other choice but to suspend the construction of Hemus Motorway meant to link Sofia and Varna, if the state fails to pay the contractor “Motorways – Black Sea” the overdue BGN 8 m (about EUR 4 m) for the work done on the major route. The company is yet to receive a total of BGN 12 m for “Hemus” and other infrastructure projects from the Bulgarian state, it emerged following a meeting of company and RIA representatives and syndicates on Monday.  

The Agency has already halted four other projects in order to pay a little over a quarter of the amount (BGN 2.4 m) to “Motorways – Black Sea”.

“For the rest of the debt targeted financing from the state budget is to be sought”, Eng. Stefan Tchaikov, board chairman of RIA said, as quoted by Focus News Agency.

Hemus Motorway has been sitting unfinished for decades with only about 100 km of road built at each of both ends.

TAGS: Bulgaria | roads | infrastructure | motorway | highway | Hemus | construction | Sofia | Varna | Road Infrastructure Agency 

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