Bulgaria to award 35-yr concession on Tutrakan port terminal

The concessionaire will have to invest some 1.16 million levs ($766,900/593,100 euro) in the port terminal within 7 years after the concession deal is signed, and no less than 1.8 million levs over the entire term of the concession, the government said in a statement following a regular weekly meeting.

The figures exclude value added tax.

The contract also provides for partial extension, reconstruction and rehabilitation works at the port facility, the statement added.

Tutrakan port terminal, located in northeastern Bulgaria, covers an area of 4,323 square metres (sq m) and has an open storage space of 3,500 sq m.

(1 euro = 1.95583 Bulgarian levs)