Danube bridge funding in danger

The EU is warning Bulgaria that €200 million in funding for the second Danube bridge project may be withdrawn if the work is not finished by the close of 2010. The EU is now considering whether to extend the projects deadline and the contractor building the bridge estimates that the work will not be completed until mid-2011. If funding is withdrawn, Bulgaria's Ministry of Transport hope to seek some financing from the European Investment Bank as well as the Bulgarian state budget.
May 15, 2012 Read time: 1 min
The EU is warning Bulgaria that €200 million in funding for the second Danube bridge project may be withdrawn if the work is not finished by the close of 2010.

The EU is now considering whether to extend the projects deadline and the contractor building the bridge estimates that the work will not be completed until mid-2011. If funding is withdrawn, 1119 Transport Ministry of Bulgaria hope to seek some financing from the 1054 European Investment Bank as well as the Bulgarian state budget.
Road Structures

For more information on companies in this article

Related Content

  • EBRD funding for St Petersburg project?
    April 27, 2012
    The European Bank for Reconstruction and Development (EBRD) intends to provide a US$277 million (€200 million) loan to the Northern Capital Highway consortium, which will build the central 11.5km section of St Petersburg’s Western High Speed Diameter (WHSD) route. The EBRD’s board of directors has said will consider the loan on 14th February 2012. The finance package is of note as Russian road projects have largely found funds from other sources so far. The Northern Capital Highway consortium estimates the
    Read More
  • Funding agreed for Romanian road construction
    March 22, 2012
    Funding worth some €177.5 million from the European Commission (EC) will pay for a highway construction project in Romania. This non-refundable financing will pay for the construction of a 27.4km stretch of the Lugoj-Dumbrava highway. This section forms part of Lugoj-Deva highway that is itself a part of the Pan-European Corridor IV. The highway section will be built by a consortium formed by the Italian companies Tirrena Scavi, Societa Italiana per Condotte d'Acqua and Cossi Construzioni. Meanwhile moderni
    Read More
  • Opening date for Romania's Brăila Bridge
    December 15, 2021
    The suspension bridge over the Danube River should be open by the end of next year.
    Read More
  • EU budget dispute?
    February 28, 2012
    There is both praise and concern in Europe over plans for a new fund to cover transport, energy and telecoms infrastructure projects.
    Read More

Highlighted Content