Bulgaria contracts 80% of EU funds for railway infrastructure
Bulgaria has signed contracts for about 80 per cent of the funds allocated for railway infrastructure projects under the European Union's Transport operational programme, Bulgaria's minister in charge of EU fund absorption, Tomislav Donchev, said on May 3 2011.
Funds earmarked under the programme for railway projects amount to about one billion leva, but so far the country has made use of a meagre four per cent, he said.
The country's railway projects are managed by state-owned National Railway Infrastructure Company (NRIC).
According to Donchev, railway infrastructure is among the segments boasting the highest level of contracted funds, which is more than the level of negotiated financing for road projects, also funded under the programme, where the rate stands at 40 per cent.
Donchev hopes that the entire amount of the EU funds for railway projects will be contracted by the middle of 2012. The bulk of the sum will go for the development of the three major projects under the programme, namely the Plovdiv - Svilengrad, Septemvri- Plovdiv and Plovdiv - Bourgas railway sections.
After repairing certain parts of the national railway network, Bulgaria could apply to the EU for obtaining funds for new rolling stock purchases in the programme's next phase, from 2014 to 2020, he said.
Currently, NRIC is drafting projects estimated at 14 billion leva and expect to secure financial aid from the EU for part of them between 2014 and 2020.
Internet source: sofiaecho.com
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