The reconstruction of Sofia Airport may cost three to four million euro less than the 111 million euro stipulated in the initial contract.

The difference was the result of an out-of-court settlement between Strabag SE Company and Bulgaria's Transport and Communications Ministry. After a year-long dispute, the Austrian company finally agreed to sign the settlement.

Strabag delayed construction with a total of two years, after which the state demanded payment of the 10 per cent default specified in the contract, amounting to around 11 million euro. Strabag insisted on receiving additional payment of between 10 and 15 million euro, citing increased prices of construction materials.

On December 18, representatives of Strabag, Transport Minister Petar Murafchiev, his deputy Vessela Gospadinova and Plamen Stanchev, director of Sofia Airport, reached an agreement after long discussions.

In the balance, the reconstruction would cost between 3 and 4 million euro, Standart daily said.