Банкеръ Weekly



The airline Bulgaria Air will lease four more planes in the spring of 2004. Aviation Service Group, a subsidiary of Bulgarian Air Charter, raised its equity capital from BGN5,000 to BGN260,000. The enterprise is chiefly engaged in repair and maintenance of aircraft. Access to INTERNET was impeded after on January 4 an anchor cut the underwater optic cable of France Telecom in the Mediterranean, through which Bulgarian subscribers' links with the global network pass. An alternative routing via Greece saved the situation. The Ministry of Regional Development and Public Works has invited international tenders for the construction of a road to the border check-point near Roudozem and for choosing independent construction supervision of the site. The project, worth about EUR11MN, is financed under the PHARE - Transborder Cooperation Programme.The Privatisation Agency has sold Road Maintenance - Bourgas to Intercom Group OOD - Varna for BGN1,340,000.Water in the capital city was hiked by 9.25% as of January 1, 2004. The Sofia Municipality announced that another price rise might follow by the year-end. It may become a fact if the additional investment projects of Sofia Water are approved, Sofia Mayor Stefan Sofiansky specified.

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