February 9 (SeeNews) - Fraport Twin Star Airport Management, a 60/40 joint venture of Germany's Fraport and Bulgarian company BM Star, said it plans to invest 256 million levs ($160.6 million/130.9 million euro) by 2027 in the two Bulgarian airports it operates.
"So far, for the first 10 years of its concession, the operator of the Black sea airports has invested 350 million levs in Varna and Burgas," Fraport Twin Star said in a statement.
In 2006, Fraport Twin Star Airport Management won a 35-year concession to manage Varna Airport and Burgas Airport.
The company said it has invested 2.9 million levs in a new system for management and control of lighting equipment at Varna Ariport last year.
The project involved the installation of new voltage regulators, new approach lights and new power-supply routes, Fraport Twin Star Airport Management said.
The company is currently carrying out two other major projects at the coastal airport, it said.
One of the projects envisages the reconstruction of a hangar, while the other includes the reconstruction of Alpha taxiway, the airport's longest and most used taxiway.
At the Burgas Airport, Fraport Twin Star Airport Management completed projects for the rehabilitation of a taxiway and the installation of a new lighting system.
Next, the airport will enlarge and redesign its apron area to optimize its aircraft stands to increase airside capacity, the company said.
(1 euro = 1.95583 levs)