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Russia offers EUR 3 billion of investments to Bulgaria

БНР Новини
Photo: BGNES

Russia is ready to invest over EUR 3 bln. in the development of Bulgaria’s road infrastructure along the Black Sea coastline and the Danube River. This country doesn’t have enough money at this stage and the EU grants practically nothing from its funds. Russian investors also offer an overall modernization of the Varna harbor. The other projects that the Russians want to invest in are for construction of transport highways and railroad infrastructure. The subject was tackled at a meeting of the Bulgarian government with the Bulgarian – Russian Palace of Commerce and Economy in Sofia.

The offer has nothing to do with the current Russian – Ukrainian relations, representatives of the palace pointed out at once. The investment projects were offered to Bulgaria a year and six months ago, but no answer has been received yet. The modern topic on the re-industrialisation of this country has also been viewed by Russian investors. Moscow is ready to provide additional EUR 12.5 bln. for a restart of Bulgarian industry. This offer is related to the construction of South Stream. Of course, Russian investments will be aimed at the spot, where Russians interests can be found. We are talking here on the construction of plants for Russian natural gas treatment, as transferred by the pipeline. The other goals of the Russian money are for the building of plants for organic chemistry products, such as nitrogen fertilizers, polymers etc. Russian investors gave their signal for the restoration of Himko – the plant that the government has been trying to sell unsuccessfully due to enormous debts.

The main part of our economy with Russia goes through Ukraine. This conflict situation troubles Bulgarian business. The latter offers the unveiling of a direct sea line for cargo transportation. If Kiev tension escalates, Bulgarian TIR trucks will be shipped directly to Russia, the ministers said. There are companies now, showing investment interest for transportation of Bulgarian goods from the ports of Varna and Burgas to the ones of Azov. A new agreement with Moscow is being prepared on charter flights to Russia. The number of companies that will transport tourists to Bulgaria is envisaged to be increased. Furthermore, tourist business here relies a lot on Russian customers. However, their number has gone down by some 30 percent for the seaside and the season is about to begin…

English version: Zhivko Stanchev

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