The Sviloza Thermal Power Plant in Bulgaria's Danube town of Svishtov has won the concession contract for the Vidin-South port terminal, according to a decision of the Bulgarian government.

The concessionaire was selected through an open tender proces which included two other participants - Vidin-based tyre maker Vidachim, and Bulgarian River Shipping AD, according to a press release of the Bulgarian Transport Ministry.

In its bid, TPP Sviloza AD proposes investments amounting to BGN 7 087 000 for the 35-year concession period, with BGN 5 667 000 to be invested in port activities in the first ten years.

The tender participation requirements envisaged investments of no less than BGN 6.1 M, VAT excluded, for the 35-year concession period, of which no less than BGN 5 M were to be invested in the first 10 years.

The fixed part of the annual concession fee for TPP Sviloza AD stands at BGN 7100, VAT excluded.

A total of 210 000 tonnes of cargo are to be processed in the first year of the concession period.

The deal is expected to provide the necessary financial resources for the reconstruction and modernization of the Vidin-South port terminal and increase the quality of the services offered, at the same time providing revenues for the state from concession fees.

Under another decision of the government adopted Wednesday, the procedure for granting a service concession for the civil airport in Gorna Oryahovitsa was terminated because it failed to attract any bidders.