Bulgaria selects local co Vidmar as concessionaire for Nessebar port terminal

Vidmar offered to pay an annual concession fee of 23,000 euro ($29,900), Value Added Tax (VAT) excluded, and to invest a total of 2.886 million levs ($1.9 million/1.5 million euro) during the entire term of the contract, from which 854,000 levs will be invested in the first ten years of the concession, the government said in a statement following its weekly meeting.

The investor plans to service 11,418 passengers during the first year of the concession contract and projected an average annual number of passengers of 13,612 for the first ten years.

In April, Bulgaria opened a procedure to award a 35-year concession contract for the Nessebar port terminal, seeking investments of at least 680,000 levs, VAT excluded, during the first ten years of the contract's term and no less than 2.18 million levs during the entire period.

($=0.7696 euro)