August 24 (SeeNews) - Bulgarian port operator BMF Port Burgas said on Monday that it has signed three contracts for the construction of new quay walls worth a total of 309.8 million levs ($187.5 million/158.4 million euro) with local company Glavbolgarstroy.
The two larger deals, worth 184.5 million levs and 66.5 million levs respectively, envisage the construction of new quay walls at the Burgas West port terminal, BMF Port Burgas said in a notice to the public procurement agency.
The third contract concerns the construction of new quay walls at the Burgas East - 2 port terminal for 58.8 million levs, BMF Port Burgas said in a separate notice.
Glavbolgarstroy faced competition from another company for the two larger deals, and from two companies for the smallest contract.
All three deals were signed on August 10, and are conditional upon BMF Port Burgas securing EU funding for the projects under the Connecting Europe Facility. The parties to the contracts can decide to cancel the agreements if financing is not secured within three months of the date of signing.
BMF Port Burgas operates the Burgas East - 2 and Burgas West terminals, part of Port of Burgas, under a 35-year concession agreements with Bulgaria's transport ministry which entered into force in 2012 and 2013, respectively.
BMF Port Burgas is a wholly-owned unit of local company Advance Properties, which in turn is fully owned by local businessmen Georgi Domuschiev and Kiril Domuschiev.
(1 euro = 1.95583 levs)