Friday 16 March 2012

Bulgaria: Qatar Demands High Returns to Fund Bulgaria's Black Sea Highway - Novinite.com - Sofia News Agency

Qatar's government has asked for a minimum of 14% return on investment (ROI) in order to participate in the funding of Bulgaria's Black Sea coast highway, the Cherno More Highway, a Bulgarian minister announced.

Qatar's tough conditions for becoming involved in the Cherno More Highway project that is supposed to link the major Bulgarian Black Sea cities Varna and Burgas were made clear Friday by Regional Development and Public Works Minister Lilyana Pavlova, a day after a high-profile Bulgarian delegation led by PM Boyko Borisov came back from a visit to the Gulf nation.

Bulgaria has offered Qatar to join the construction of the Black Sea highway through a public private partnership since the European Commission has not agreed to provide EU funding for project as it is not considered an international road, Pavlova explained on Friday after handing out EU funding checks for flood prevention to several Bulgarian municipalities, as cited by BTA.

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