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[BUSINESS] · Bulgaria · 3 sources

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Hemus Motorway construction to continue via contract annexes

Bulgarian Minister of Regional Development and Public Works, Ivan Shishkov, announced a new plan for the construction of the Hemus Motorway. Following meetings with local mayors, the government has decided to continue construction using existing contractors through contract annexes rather than terminating current agreements and starting new procedures.

Shishkov noted that terminating existing contracts from 2018 and 2019 would likely lead to legal disputes, financial losses for the state, and a delay of approximately five years. Instead, the ministry will implement much stricter oversight and a new payment model. Under this model, the state will stop providing advance payments; instead, payments will be made only after construction work has been completed to ensure quality control and better budget management.

The goal is for the motorway to reach Veliko Tarnovo within two and a half to three years, with full completion expected by 2030. The construction companies involved must now prove their capability to fulfill their obligations under these heightened regulatory standards.

Entities

Hemus Motorway · Ivan Shishkov · Ministry of Regional Development and Public Works · Veliko Tarnovo