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Bulgaria Environment Min Boasts Concession Revenues of over BGN 3.3 M

Business » FINANCE | February 12, 2014, Wednesday // 14:40| Views: 1135 | Comments: 0
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In 2012, concession contracts signed with Bulgaria's Ministry of Environment and Water fetched revenues amounting to BGN 3 353 731,82.

Bulgaria's government adopted Wednesday the 2012 annual report of the commission tasked with monitoring the implementation of the concession contracts signed with the Ministry of Environment and Waters. The commission also controls the concession contract for the Bansko ski zone.

A total of 21 mineral water concession contracts were in force in 2012 and they generated revenues of BGN 3 353 731,82.

The sum of BGN 3 353 731,82 includes payments under contracts for producing mineral waters of BGN 3 090 062,82, payments of BGN 263 669 for the Bansko ski zone, the remainder including revenues from utilized bank guarantees for the non-implementation of investment programs, penalty payments under concession contracts and interests under mineral water concession contracts.

Pursuant to Bulgarian laws, municipalities received a total of BGN 893 531,67 from concession payments, while the Ministry of Environment and Water contributed VAT amounting to BGN 760 192 to the state budget.

According to an analysis, the concessionaires extracted small quantities of mineral water compared to the quantities they were entitled to extract owing to the limited opportunities to sell bottled mineral waters on the Bulgarian market.

The Commission believes that the Ministry of Environment and Water, in cooperation with the Bulgarian Soft Drinks Association, should continue to assist the competent bodies in their attempts to make Bulgarian bottled mineral waters more popular in a bid to boost export terms.

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Tags: Ministry of Environment and Waters, concession, concessionaire, mineral water, Bansko ski zone, VAT
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