New Bridge Opens Between Bulgaria And Romania
By VESELIN TOSHKOV
VIDIN, Bulgaria (AP) â¿¿ A new bridge linking Bulgaria and Romania across the Danube River was opened Friday with hopes that it will spur 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 opened 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. Vidin mayor Gergo Gergov hopes that the new bridge and other infrastructure projects in the region will help to break the isolation.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts