An investment amount of 80 million Euro is expected for the new Varna stadium. That was announced by the contracting company and “Sports Complex Varna”, main investor of the project.
Most of the shares of the investing company belong to “Himimport” while 35% are owned by Varna Municipality. The contractors intend to hire foreign specialists and import materials and supply in order to complete the development. The estimated final costs are even to expected to exceed the first calculations.
Construction works should start this autumn but only a proximate deadline for full completion is being planned for 2011. It is expected to take about 26 months and another year is considered for relocating the road networks and solving all infrastructure issues.
The stadium is still at technical project stage and the investors are currently negotiating with land owners in order to purchase the neighboring plots. They have already acquired two of the properties they desired and hope to close the deals for the rest soon.
