China Machinery Engineering Corporation (CMEC) has signed a $135.5 million Bulgaria port project construction contract with Logistic Center Varna EAD to jointly develop port infrastructure in the port of Varna.
According to the contract, CMEC will take charge of the project design optimization, material supply, construction and installation as the prime contractor. The overall project construction period will be 36 months.
It is the first port project constructed by the Chinese company in Bulgaria, which will enable the port of Varna to be the first modern port equipped with warehouse facilities in Bulgaria.
The project will strengthen the company’s branding in Bulgaria, Central and Eastern Europe, and greatly improve cargo handling capacity of Bulgaria, said CMEC.
CMEC is owned by China National Machinery Industry Corporation. The core business of CMEC is engineering contracting, as well as trading, investment, R&D and international services.