Spain's FCC, hired to build a bridge spanning the Danube at Vidin-Calafat, has requested an extension to the project deadline and an increase in the implementation costs, said an official from the Bulgarian transport ministry.

The building contractor has motivedt the demands with additional geological studies, changes to the project and delays in the expropriation of private land needed for the project.

At the insistence of project engineers Inger/High-Point Rendel, FCC has had to conduct additional geological studies at its own expense.

Simeon Evtimov from the transport ministry unit in charge of the project refused to disclose the likely budget overrun.

The project is so far around four months behind schedule.

After meeting with FCC executives recently, transport minister Petar Mutafchiev recently said the delay will be made up.

The government official also admitted that the rising shipping cost for aggregates will add to the construction bill.

The initial estimate for the cost of the facility was 226 mln euro with 70 mln euro coming from EU's ISPA program and EIB. The ISPA money should be absorbed by the end of 2010 which is also the target launch date for the bridge.(Dnevnik)

Bulgaria is the least attractive country for retail investment, among eight Central and Eastern European states ranked by Country PMR Retail Attractiveness Index™.

On the upside, Bulgaria's low market concentration and modest number of well-recognised international retailers increase attractiveness of this country for new entrants.

Also demographics is encouraging – urban dwellers account for 70% of population, half of this live in cities above 100,000 of inhabitants. Unfortunately, those advantages are overshadowed by weak macroeconomics factors of this poorest member of the European Union, said international consultants PMR.

In compiling the index, PMR examined the retail markets in Bulgaria, Czech Republic, Hungary, Poland, Romania, Russia and the Ukraine.

The surveyed was topped by Russia and the Ukraine.

The greatest advantage of Ukraine and Russia over other countries of the region is abundance of large cities offering sizable catchments area even for the largest hypermarkets. In Russia, there are 160 cities with more than 100,000 of population. As much as 12 of them have more than one million of inhabitants, and Moscow and St. Petersburg host 10 mln and 4.5 mln respectively, said PMR.

Ukraine, though much less populous than Russia, have five one million cities, including 2.6 mln Kyiv. In all other of countries analysed only the capital city breaks one million, with exception of Slovakia, whose capital city Bratislava have only 450,000, which is comparable to medium-size, provincial Russian cities.

Contrary to Russia and Ukraine, Central European countries like Hungary, the Czech Republic and Slovakia are small, said PMR.

They are, however, more affluent – GPD per capita in PPS in the Czech Republic reached 81.1% of the EU average in 2007.

However, their retail markets were filled with retail sales since early nineties. As a result, top ten grocery players in Hungary amounted to 71% in 2007, in the Czech Republic to 75.3 and in Slovakia to 78%.(Dnevnik)

French travel and high street retailer Lagardere has opened its first outlet here in Vratsa, Northeastern Bulgaria.

The Vratsa store is part of Lagardere's Inmedio chain.

Relay, Lagardere's outlets at bus and train stations and airports, will also enter the Bulgarian market.

The French company plans to open at least another four outlets by the end of 2008, said the local office.

Two of the launches are planned for Ruse and one each for Montana and for Mall Stara Zagora and Stara Zagora.

Lagardere plans to have 100 outlets Bulgaria-wide over the mid term, targeting locations at shopping malls and transportation hubs.

(Dnevnik)