March 8 (SeeNews) - Bulgaria's government said on Wednesday that it approved the transfer of Trace BG's concession agreement for the Isenov Vrah limestone deposit near Stara Zagora to its legal successor, Trent.
The concession agreement, which was first signed in 2010, will be extended by 15 years, the cabinet said in a press release following a regular weekly meeting. The extension was granted at the request of the concession-holder due to the presence of remaining reserves in the deposit.
Both Trace BG and Trent are units of construction contractor Trace BG [BUL:T57].
The concession for the Isenov Vrah deposit was first awarded for a term of ten years to PSI, another Trace Group Hold subsidiary.
In 2021, Trace Group Hold paid the government overall concession fees of 322,000 levs ($173,651/164,635 euro), according to its latest annual report.
Trace Group Hold units hold five concessions for building materials deposits, with durations between 25 and 35 years, in Topolovgrad, Zmeevo, Vinarovo and Boyanovo for a total area of 831,000 sq m, the annual report shows.
(1 euro = 1.95583 levs)