Extended concession period

The government has extended the concession of BMF Port Burgas for another 11 years

BMF Port Burgas EAD strictly fulfils its concession obligations and in just seven years has turned the port of Burgas into one of the most important, competitive and preferred Black Sea ports. Huge investments and rapid growth are already having a positive impact on the national and regional economy. Freight turnover has tripled, hundreds of new jobs have been created – the benefits for the local economy are obvious. Customers no longer bypass the Burgas Bay – renovated, mechanized and automated Port Terminal Burgas East – II and Port Terminal Burgas West offer handling of ships and cargo in accordance with the highest world standards. This is the motive of the Council of Ministers at its meeting on June 5 this year to decide to extend the concessions of the two terminals from 35 years to 46 years and eight months, each.

More than BGN 215,000,000 have been invested in the reconstruction and modernization of the Burgas East-II terminal, with a total investment of BGN 223,434,600 provided for the entire term of the concession. In the Port Terminal Burgas West only for the first 5 years the investments exceed BGN 32,000,000, with a total investment of BGN 34,814,000 provided for the entire term of the concession. In practice, at present, in the short period of seven years, the company has almost fully fulfilled its investment obligations under the concession contracts for 35 years. The main part of the investments are made in sites – public state property, which at the time of their implementation become the property of the state. The concessionaire strictly fulfils the social commitments.

The company employs over 900 people, with a commitment under concession contracts to provide 547 jobs. The additional jobs created are related not only to cargo handling, but also to the maintenance of port infrastructure and facilities. Insurance is maintained at the expense of the employer, a voucher system for free food has been introduced, and additional health care for employees has been provided. The company pays special attention to the conditions for health and safety at work. The Working Conditions Committee meets regularly – the modern form of social partnership on which the success of the overall safety policy depends. The newly formed health and safety team works according to established world rules and standards. The social policy of BMF Port Burgas EAD includes the maintenance and development of its own Vocational Training Centre. In an effort to respond to the needs of its customers, and to keep pace with market dynamics, the company has a special focus on maintaining and improving the skills of its employees. The modern Vocational Training Centre provides modern conditions for raising the qualification of both the company’s employees and for the training of interested external students.

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