Government to solve Burgas terminal problem

Bulgaria's Minister of Transport has promised to help resolve problems at the new Terminal 2A at the port of Burgas.

This was built by the port authority using borrowed money primarily to serve the steelmaker Kremikovtzi, which subsequently went bankrupt. The port now has to repay the debt, without incoming revenue.

The new terminal, which opened in April 2006, had been operating on a series of temporary permits, although it handled very little traffic for the steelmaker.

As part of a revamp, it will be permitted to handle cargo for other companies. It will not be until 2038 that all loans are repaid.

Source: Port Strategy