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Bulgarian Property & Real Estate News

Glavbolgarstroy to team with Deutsche Bank on Rila motorway project

Deutsche Bank has signed up to provide advisory services to Bulgarian property construction company Glavbolgarstroy and help it in the initial preparation and design phase of the Rila motorway project. The German bank will work with Glavbolgarstroy to prepare its bid for the construction of the Rila motorway which will connect the Hemus, Struma and Trakia motorways and also speed up the link to Borovets ski resort. The investment bank will not be financially involved in the project at this stage but is in principle interested in being involved on the financing element of the project.

A tender process for the motorway section has not yet been launched but Glavbolgarstroy said it has the capability to complete the motorway section in three years. In its role as Glavbolgarstroys consultant on the project, Deutsche Bank will be responsible for finding strategic partners for the Bulgarian property and investment company for the future construction and management of the motorway.

Source: Dnevnikam

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