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20 July 2012

Bulgaria to Grant Ruse-West Port Terminal under 35-Year Concession

The Bulgarian government has launched the procedure for granting the Ruse-West port terminal under concession for 35 years.

Under the terms of the contract, the future concessionaire undertakes to invest no less than BGN 7.409 M in the facility, which is part of the Ruse Port Complex, for the period of 35 years, according to the minutes of a Wednesday meeting of the Council of Ministers.

The concessionaire will have to pay a one-off payment of BGN 150 000, VAT excluded, via a bank transfer, as well as annual concession fees consisting of a fixed and a variable component, according to Transport Minister Ivaylo Moskovski.

Moskovski is further quoted as saying that the concessionaire will be required to invest no less than BGN 4 650 000 in the first six years after the contract's entry into force and no less than BGN 7 409 000 for the entire concession term.

The Ruse-West port terminal is located in the western industrial zone of the Danube city and is specialized in the processing of general cargo mostly.

Its total area is 116 000 m2, it has 10 berths and 11 gantry cranes with a lifting capacity of 5 - 20 t.