This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

New Bridge Opens Between Bulgaria And Romania

By VESELIN TOSHKOV

VIDIN, Bulgaria (AP) â¿¿ A new bridge opened Friday between Bulgaria and Romania, the second on the 500-kilometer stretch of the Danube River that forms the common border between the Balkan neighbors, is touted as a key to boosting growth in one of Europe's poorest regions.

But skeptics argue that dilapidated infrastructure on both sides of the river will turn it into "a bridge to nowhere."

The long-delayed bridge linking Vidin in Bulgaria with Calafat in Romania was being opened Friday at a ceremony attended by top politicians of the two countries and EU officials.

The 282 million euros ($375 million) project was backed by 106 million euros from the European Union, which both countries joined in 2007; the rest came from national financing and private investments. It is part of the Pan-European transport corridor IV, linking Dresden in Germany with the Aegean port city of Thessaloniki and Istanbul further east.

The cable-stayed, steel and concrete bridge has two traffic lanes in each direction, a railway line, two pedestrian paths and a bicycle track. Overall, the bridge is 3,598 meters (11,804 feet ) long, with 1,791 meters over the river.

The only other bridge between the two Balkan countries, linking the cities of Ruse and Giurgiu, was completed in 1954.

In Vidin, local officials hope new businesses will open along the roads leading to the bridge, which is expected to be crossed annually by 100,000 vehicles.

New jobs are badly needed in this northwestern corner of Bulgaria, which together with southwestern Romania and northeastern Serbia compose one of the poorest and most depopulated regions in Europe.

Vidin has an unemployment rate of more than 20 percent, almost double the Bulgarian average. The population has shrunk by 25 percent, to 48,000 people, in the last two decades as local factories closed, and many left to look for a job in the capital, Sofia, or abroad.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,356.87 +288.00 1.69%
S&P 500 2,012.89 +40.15 2.04%
NASDAQ 4,644.3120 +96.4780 2.12%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs