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BMF Port Bourgas Sees Concession Extended A Further 11 Years

BMF Port Bourgas sees concession extended a further 11 years

BMF Port Bourgas Sees Concession Extended A Further 11 YearsSource: Port of Burgas

Burgas, Bulgaria (PortSEurope) July 9, 2019 – BMF Port Bourgas has been operating the port for seven years, and in this time, cargo handled has increased threefold and local jobs have been created to support the local economy.

The company has had the concession of Bourgas East-2 since 2012, and the following year took over the concession for Bourgas West terminal. It has invested a total of BGN 223.43 million in Bourgas East-2 and BGN 34.8 million in Bourgas West terminal.

In seven years, the company has almost reached the investment levels stated in the original 35-year concession document. Both buildings and port equipment has been upgraded to achieve the cargo gains.

As a result of the investment program Bourgas East-2″, the terminal was chosen as the main logistics base for the implementation of several international projects related to gas, drilling, exploration and extraction activities of potential and active oil and oil fields. Such projects are long-term and with a high degree of economic importance for the development of the country and the achievement of independent energy sources. The terminal is regularly visited by specialised craft and ships that deliver supplies to and from the drilling bases located in the Black and Caspian Sea.

A direct effect of the modernisation of the port infrastructure, capacities and facilities at both terminals is the significant increase in freight traffic. In the case of processed goods in 2012 amounting to 1,538,270 tonnes, cargo handled increased to 5,818,018 tonnes in 2018.

The government supports the efforts of the company to modernize the port of Burgas and to make it a desirable partner for the maritime business, thus influencing the economic growth of Bulgaria. This is the main reason for the extension of the two concessions by another 11 years and eight months each.

For its part, the concession company undertakes additional obligations for new investments and new concession payments within the extended term as well as for the implementation of the corresponding new values ​​of the concessions. The extended term of the concessions will contribute to the continuation and validation of the successful social program of the company, including new jobs.

BMF Port Burgas EAD is a private-owned port operator of terminal Burgas East 2 and terminal Burgas West, part of the national public port of Burgas.

The area of port terminal Burgas East 2 is 419,468 m². It contains 9 berths and 1 pier. The total length of the quay front is 1592 metres and the maximum permissible draft is 14.6 metres which allows mooring of Panamax vessels.

The area of port terminal Burgas West is 641,499 m². It contains 6 berths. The total length of the quay front is 958 metres and the maximum draft is 11.00 metres.

Source: BMF Port Burgas EAD

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