More Construction Plots In New Master Plan Bulgarias Tsarevo 11/03/2008
The new master plan of Bulgaria's coastal municipality of Tsarevo envisions an enlargement of the areas where construction would be allowed. The new plan included all areas, bordering on terrains already designated for construction in the municipality, investor.bg said. Some of the newly included areas in the plan were part of the Strandja nature park, but the municipality said that construction in those areas should correspond to the legislation for construction in nature parks and could only be started after approval from the Environment and Water Affairs Ministry. The plan offered property exchange as a way to keep the absolute size of the area of Strandja nature park by offering other, larger, plots instead of the Strandja areas, which had now been included in the zoning... more

Transport Minister, Vidin Mayor To Monitor Construction Of Danube Bridge 2 25/03/2008
Bulgaria's transport ministry and Vidin town hall would hold monthly panels to monitor the progress of Danube Bridge 2, which will link the Bulgarian town to Calafat in Romania, Transport minister Petar Moutafchiev and Vidin mayor Roumen Vidov agreed on March 24, Focus news agency reported. “It is not time for policy but time for real action,” Moutafchiev said, adding that despite the project being agreed for some time, nothing has been made to start construction before he took office in 2005. The project was too complex for any single institution to deal with on its own and would require co-operation between central and local government to meet the stipulated deadlines, Moutafchiev said. “I hope that building works will complete by 2010,” he added. He pointed out the possible... more

Arco Invest, Glavbolgarstroy Sign 3.1m Euro Deal 10/03/2008
Arco Invest Ltd, the Bulgarian subsidiary of Tallinn Stock Exchange-listed Arco Vara, has contracted construction company Glavbolgarstroy-Sofia Jsc to build the second stage of a mixed residential-commercial complex on Sofia's Madrid Boulevard. Arco Invest will pay Glavbolgarstroy 3.1 million euro for the works, which will include also doing the building's interior. The Estonian company bought the Madrid project with all required permits on August 2 2007 and said it would invest 20 million euro in a mixed residential-commercial complex with a total built-up area of 24 700 sq m. It was due to be completed in the autumn of 2009. Arco Vara is a leading real estate developer in the Baltic region, which has begun expanding to central and eastern Europe. The company owns... more

Eu Cash To Upgrade Bulgaria's Transport Infrastructure 20/03/2008
Almost two billion euro is expected to come to Bulgaria from EU funds for the period 2007-13. The money will be used for repair works of all first-class roads and railway lines between Sofia and the Black Sea coast. The money will also be used for granting on concession the Trakia, Maritsa, Struma and Cherno More highways as well as all Bulgarian airports except the one in Sofia. According to an action plan presented by Gagauzov, one billion euro is expected to come from the EU Cohesion Fund. The fund aims at helping countries reach EU standards. The money will be used for reparation works of nine roads and the ring roads of Montana, Vratsa and Gabrovo cities. With 1.5 billion euro for the fund, the Government expects to modernise the railway lines between Sofia-Pernik-Radomir;... more

Bulgarian Inflation Quickened In March On Fuel, Food 15/04/2008
Bulgaria's inflation rate rose to the highest in more than 10 years last month as higher fuel costs pushed up prices for food and services. The rate rose to 14.2 percent from a 10-year high of 13.2 percent in February, the National Statistics Institute said in a statement today. Consumer prices gained a monthly 0.8 percent after a 1.1 percent increase in February. The median estimate of six economists surveyed by Bloomberg was for an annual 13.5 percent. Bulgaria and the Baltic states of Latvia, Lithuania and Estonia are struggling to slow inflation because their currency board systems limit options for central banks to use interest-rate policy to stem price growth. The nations need to hold down inflation so they can adopt the euro. ``Apart from fuel and food prices, spending on... more