Sat, Nov 21 2009

EC RECOMMENDS AMENDMENTS TO BULGARIA'S TRAKIA HIGHWAY CONCESSION

Wed, Nov 21 2007 12:36 CET byElitsa Savova 465 Views

The European Commission (EC) recommended three amendments to the draft-contract for the concession of Trakia highway, Deputy Regional Development and Public Works Minister Savin Kovachev said.

The amendments aimed at limitation of the possible risks of government expenditures that would be ranked as state aids, American Chamber of Commerce in Bulgaria edition Intellinews said.

According to the amendments, a ceiling of 50 per cent on the budget compensation for lower than expected motorway traffic should be introduced, the state should not cover additional expenses caused by "weather-related or other incidental road congestions" and the concessionaire should return to the state any inadmissible fund transfers, detected by an EU monitors.

A consortium, 51 per cent of which is held by three Portuguese companies, won the concession of the highway.

The construction investments for the 443km long highway were estimated at 590 million euro, Intellinews said.

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