Bulgaria to Grant Vidin-South Port Terminal under 35-Year ConcessionBusiness | August 1, 2012, Wednesday // 15:42| views
The Bulgarian government is about to grant the Vidin-South port terminal under concession for a maximum period of 35 years.Photo by bgports.bg
Bulgaria's government has launched a procedure for granting the Vidin-South port terminal under concession for a maximum period of 35 years.
The investor will be required to make investments of no less than BGN 6.1 M, VAT excluded, for the period of the concession, according to reports of the Bulgarian Telegraph Agency (BTA).
In the first 10 years of the concession period, the concession holder will have to invest a minimum of BGN 5 M in the port terminal.
The concessionaire will be selected through an open tender procedure.
The idea behind the concession is to attract the private sector into the management of the port terminal, thereby channeling investments into the development of the port infrastructure and the modernization of technical facilities and equipment.
Foreign investments are expected to help bring the technology used by the port terminal and its work organization in line with European standards.
The concession holder will be expected to work for the achievement of a balanced price/quality ratio of the services offered by the Vidin-South port terminal, making the rates comparable and competitive to the tariffs charged by the other ports in the region.