The Varna Ferry transport company that transports cargo on the Varna - Caucasus ferry line will borrow a loan of $ 9.2 mln, posted Darik Finance. Navigation Maritime Bulgare (Navibulgare) and Bulgarian River Shipping (BRS) are guarantors of the credit, which will be borrowed from the Central Cooperative Bank. A vessel built in 1995, intended to serve the ferry line, will be purchased with $ 8 mln of the loan.

Varna Ferry is a company set up earlier this year by BRS and Navibulgare with a capital of BGN100,000.

“The ferryboat connection Varna - Caucasus shortens the distance between Bulgaria and Russia with about 800 km, compared to the Varna - Ilichovsk ferry line, which is a significant advantage for businesses,” explained officials from the Executive Agency Maritime Administration. This will reduce the time for delivery of goods by 40%.