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1st Bulgarian Black Sea Port Concession Enters into Force

Date: 30.05.2006

The first concession granted for a Bulgarian Black Sea port - port Balchik, entered into force on May 27.

The concession of the port was granted to the Dobrich company "Port-Balchik" for a period of 25 years.

The concessionaire is to invest in the port BGN 3,5 M. Over the first year of the concession new port mechanisation is to be purchased and the port terminal will be renewed. Port Balchik plans to construct grain elevators with capacity of 2000 tones.

Bulgarian Deputy Transport Minister Yudzhel Attila, who attended the inaguration, commented that most of Bulgaria's port should be granted on concession. In his words that could be very successful process.

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