Bulgaria's Cabinet has initiated procedures to grant on concessions the Danube Port of Lom, and the port terminal in the Black Sea resort of Nessebar.

Both concessions are for a period of 35 years, with the concessionaires said to be picked through open tenders.

The concessionaires are expected to offer port services, management, maintenance, and to perfomr some construction.

The future concessionaire of the port terminal in the popular Bulgarian Black Sea resort of Nessebar will be required to invest at least BGN 680 000 in the first 10 years of the concession period, and at least BGN 2.18 M for the entire concession period.

The future concessionaire of the Danube port of Lom, one of the largest Bulgarian river ports, will be expected to invest at least BGN 6.375 M in the first four years of the concession, including in the purchase of new machinery and assets for the Lom Port Complex Jsc.

Between the 5th and the 35th year of the concession, the future concessionaire of Port Lom will be expected over BGN 16 M.

"The granting of the concessions will create conditions for efficient maintenance, modernization, and development of the transport infrastructure, integration of the Bulgarian transport system in the European one, transparent and harmonized conditions for competition on the transport market, and securing a good business environment as well as employment for the local population," states the grandiloquent decision of the Bulgarian Cabinet to grant the ports in Lom and Nessebar on concession.

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