A part of Hemus highway was completely renovated, the company executing the project announced. Strabag finished the works on parcel 211 of the "Transit Roads III -Lot 4" project, that started June 2004. According to the project, the works on the 3,86 km-long parcel included strengthening of the road's curb and covering, replacement of railings, placement of new indications and of new asphalt layer. The renovation works spread on four parcels totaling 26.24 kms and this is one of four such projects, as part of the National Development Program for 2006-2008. The goals for the period are to improve and expand the road network for international traffic. The other three "Lot" parcels will be reopened by the end of November, Iliya Tasev, Chairman of Injstroy announced. The renovated parcel was officially opened by Antonio Izquierdo, First Secretary and Team Leader of the Financial Section of the Delegation of the European Commission to Bulgaria, Lyubomir Lilov, Deputy Executive Director of Roads Executive Agency (REA) Bulgaria, and Georg Janisch director of Strabag. COPENHAGEN AIRPORTS BOOSTS VARNA, BURGAS INVESTMENTS Copenhagen Airports will increase the initially planned EUR 106 M investments at Bulgaria's Varna and Burgas airports to reach EUR 140 M by the end of 2008. According to the Danish company's management, the two airports located on the Black Sea coast are too out-of-date and their facilities are breathing out of capacity to serve the constantly increasing passenger traffic. Earlier this year, Bulgarian government granted Copenhagen Airports a concession contract to run the airports in Varna and Burgas. The concessionaire intends to add a new terminal at the Varna airport by 2008 and expand the existing facility. Meanwhile, a corporate analysis on the airports of Varna and Burgas has shown that unless urgent reforms are implemented at both facilities, the airports may see a decrease in expected traffic as soon as next season. Due to insufficient quality of services, tour operators are likely to redirect tourists to alternative destinations. The study concludes that the cumulative effect will result in worse bed occupancy at Black Sea hotels and slowdown in the overall economic development of the region. "Airport services at Varna and Burgas are an inseparable part of the holiday expectations of tourists. Therefore we are determined to invest immediately in temporary facilities to guarantee in the short-term the best of services at both airports," an executive official of Varna-Burgas Airports EAD has said in a press release. Bulgaria's top three airports at Sofia, Varna and Burgas are struggling to cope with a 20% increase in passenger traffic, as the stream of tourists and business travellers is on the constant upsurge in and out of the country. The Varna Airport reported the biggest increase in passenger traffic in the first half of 2005, up by 20%, followed by Sofia with 19% and Burgas with 15%. Passenger traffic between the inland and the Black Sea coastline has flied up by 40% this summer. Presently fighting to win a court appeals against the granted concession, Copenhagen Airports expects to take over the Varna and Burgas airports finally at the end of this month.
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source: bulgarianpropertiesmarket.com
