Sat, May 26 2012

Bulgaria could mortgage Sofia's former sugar factory

Tue, Dec 15 2009 13:36 CET

byDnevnik.bg

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Bulgaria could mortgage Sofia's former sugar factory

Photo: Georgi Kozhouharov

Bulgaria’s Culture Ministry might mortgage the building of the former sugar factory in Sofia to save it from being torn down. The building, a cultural monument, has been falling apart for years and two people were recently killed by a fallen concrete slab.

The site was visited by representatives of the Sofia regional administration, the Culture Ministry and the building's owner, TAB Real Estate, on December 14.

The state might mortgage the building to take a bank loan to finance repairs at the site. The bank will be paid by the building owner.

If the building were to be demolished, its owner would be required to build the same facility from scratch. The owners could stand trial for abandoning it, provided that the prosecutor's office launched an investigation, according to Shteryo Nozharov, the head of the Culture Ministry's inspectorate for the preservation of cultural heritage.

TAB Real Estate's shareholders are based in Cyprus. The company is represented in Bulgaria by lawyers.

Source: Dnevnik

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Anonymous ivan Wed, Dec 16 2009 09:25 CET
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is it really worth saving?


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The bitter end of the sugar factory

A 111-year-old monument of culture in Sofia faces destruction, caught between business interests and bureaucracy

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