12.05.2008

New 160 Million Stadium projected for Varna


A new "Varna" stadium is in the works with an expected investment amount of 160 million leva.

However, according to statements made in front of reporters by the contractor "Project Management Company" and the investor "Sports Complex Varna”, the sum could end up even higher.

The majority of the investor's shares belong to "Himimport" while 35% are owned by the Varna Municipality.

The stadium will be fully completed in 2011 at the earliest, and is now in the technical project stage.

Construction works are planned to begin in this fall and are expected to continue for about 26 months with another year needed to move the infrastructure.

According to the Executive Director of "Project Management", foreign specialists and materials will have to be used for the construction works because they lack in Bulgaria.

The negotiations with owners of plots located near the new stadium are continuing. So far, "Sports Complex Varna" has acquired two of the plots they wish to own. Five other property deals re expected to close soon, according to TIM's corporative secretary.

"Himimport" is also the investor in the track and field stadium "Mladost" (Youth). This project has an expected investment amount of 38 million leva. The finished facility will have a capacity of 2000 spectators. All residents of Varna residents will be able to use it when there are no competitions. A hotel and shopping center adjacent to the "Mladost" field are also included in the project.


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