The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Construction Construction Of Buildings And Infrastructure Engineering Civil Engineering 42 - Civil engineering
700 jobs Number of planned job creations
Announcement Date
30 January 2007
Employment effect (start)
1 March 2007
Foreseen end date
3 May 2010
Description
The Bulgarian Government and the Spanish FCC Construccion (Fomento de Construcciones y Contratas) have signed a contract for building Danube Bridge 2, which will connect Bulgaria and Romania. The contract is for 99.5 million Euro and the bridge has to be completed by May 2010. The process is financed from Programme ISPA (Instrument for Structural Policies for Pre-Accession) - 70 million Euro; another 70 million Euro loan from the European Investment Bank; 20 million Euro from KFW - Germany and the state budget, which is expected to give up to 60 million Euro. The consortium INGEROP (France) – High Point Rendel (UK) France, will accomplish the engineering supervision of the bridge. More than 700 new jobs will be created during the construction said the Minister of transport Petar Mutafchiev. It will have a very positive effect on the area, as the unemployment rate in Vidin is one of the highest in Bulgaria. Mr Mutafchiev expects the effect for the regional economy from renting technical devices, transport and services to exceed 60 million Euro. The Danube Bridge 2, which has been postponed for years, will have two traffic lanes in both directions, railway road, bicycle lane and pavement for pedestrians. This bridge is an important element to open Bulgaria to the European transport system, said the transport minister.
Sources
30 January 2007: www.money.bg
31 January 2007: Trud
31 January 2007: Dnevnik
31 January 2007: Pari
Citation
Eurofound (2007), FCC CONSTRUCCION, Business expansion in Bulgaria, factsheet number 64892, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64892.
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