EIB may provide a loan for Sofia metro Line 3

The European Investment Bank has under appraisal a EUR 22 million proposed finance for the second stage of Sofia’s metro Line 3. EIB intends to award this financing to cover a total cost of EUR 50 million.
The loan will be provided to Sofia Municipality for the construction of the second stage of Sofia Metro Line 3. The project includes a twin-track metro line approximately 3.8 km in length, 4 metro stations, and a railway stop for connection to the national railway network at the last metro station.
The total cost of the project is EUR 500 million, of which EUR 350 million is covered by the EU funds. The financing of the project is ensured at 70 percent by the EU under the Operational Program “Transport and Transport Infrastructure” and 30 percent are locally co-financed.
The project is implemented in two phases. The works on the first stage of the Line 3 were launched in 2016 and involve the construction of an 8 km section with 8 stations which will be put into service in 2019, when 20 metro trains will operate on the line. The construction contract is performed by a consortium of Doğuş, Via Construct and Ultrastroy.
The metro Line 3 will create an east-west link that will run 18 km mostly under the city and also at ground level outside the central parts and will serve 18 stations. When complete, Line 3 is expected to be 16 km long with 19 stations, bringing the total length of Sofia’s metro network to 56 km of lines and 53 stations by 2020.