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Agreement on Grant Aid for Trakiya Motorway Signed

23 April 2010 A+AA-

The Managing Authority of OP Transport and the beneficiary, the Road Infrastructure Agency, signed today an agreement on the provision of grant aid under the project, Completion of Trakiya Motorway, Lots 2, 3 and 4.

The agreement on the provision of grant aid is signed in accordance with Council of Ministers' Decision 226 of 23 April 2010 authorizing the Managing Authority of OP Transport to sign the agreement prior to the final approval of the project by the European Commission.

The agreement is of the value of 699,648,287.32 BGN as the funds are extended only for the eligible costs under the project. The agreement is valid until 13 December 2013.

In accordance with the procedures for assessment of big infrastructure projects of the value of over 50 million EUR, the project should be submitted to the European Commission for final assessment.

Meanwhile, at the Road Infrastructure Agency its Executive Director Bozhidar Yotov and Tsvetan Tsonev of Obedinenie Magistra Thrace [Trakiya Motorway Partnership] signed a contact on the construction of Lot 2 of the Trakiya Motorway. The construction of the nearly 32-km section, from Stara Zagora to Nova Zagora, will cost 137,868,000 BGN (inclusive of VAT) and the term of implementation will be 25 months.

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