Bulgarian Minister of Transport Ivaylo Moskovski has said that on 6 September in Kavala, Greece, an intergovernmental memorandum will be signed between Bulgaria and Greece for a new railway connection between the Greek ports of Thessaloniki, Kavala and Alexandroupolis and the Bulgarian ports of Burgas and Varna on the Black Sea, and Ruse on the Danube.

The Bulgarian section will cost roughly 1 billion euro, and the Greek one, about 4 billion. The project is expected to attract many investors, to be financed by the Juncker Plan or to prompt the interest of the European Investment Bank and other large banks.

Prime Minister Boyko Borisov will hold a meeting with Greek Prime Minister Alexis Tsipras in Kavala and will participate in a ceremony for the signing of a Memorandum of Understanding between Bulgaria and Greece on the development of the railway link.