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Crunch Freezes 1st Pazardjik Mall Scheme

Local company Litos-iBuild has halted for one year work on the first shopping mall in the southern town of Pazardjik, mayor Todor Popov said.The mall's construction began in June 2008 and was scheduled to welcome its first shoppers by this autumn.However, digging work has not started yet. The investor has only removed the road surfacing material from a municipal parking lot where the shopping centre should stand.Company owner Ivo Kolushev blamed the change of plans on the global financial crisis.The 6.5 million euro project, which was financially-packaged by local Investbank, was expected to spread on a 1 661 sq m site in the western part of the town. Its four floors would accommodate 120 retail outlets.