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Bulgaria's Varna Airport has been revamped with a BGN 40 M investment in its runway. File photo
Bulgaria's Transport Minister Ivaylo Moskovski and representatives of concessionaire Fraport Twin Star Airport Management officially opened the rehabilitated runway of Bulgaria's Varna airport.
"The concession of the Burgas and Varna airports is a good example of public-private partnership," Moskovski said at the ceremony.
"We managed to attract EU financing for the railroad infrastructure, but when it comes to airports and ports concession is the best approach," he added, as cited by Varna 24.
The Transport Minister expressed his certainty that the concessionaire's investments will turn the Varna and Burgas airports into modern European airports and will lead to an increased number of passengers and the attraction of more airline companies.
The Varna airport resumed serving passengers and flights after it was closed in October 2011 for rehabilitation of its runway.
Since the fall of 2011, concessionaire Fraport Twin Star Airport Management has invested BGN 40 M to improve the runway.
In November 2011, Fraport Twin Star Airport Management signed the contract for the construction of the new terminals with the selected constructor, Turkish consortium TIE-ICDAS.
The construction of the two passenger terminals is estimated to cost the concessionaire a total of BGN 130 M.
As early as July 2011, the concessionaire of the Bulgarian Black Sea airports Varna and Burgas Fraport Twin Star Airport Management announced plans to invest BGN 170 M in their modernization in the next 3 years.
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