Concession for Airport in Bulgaria signed

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Concession for Airport in Bulgaria signed

The government of Bulgaria through the Ministry of Transport has signed the concession agreement for the Sofia Airport with the consortium Sof Connect. The consortium's goal is for Sofia Airport to become a regional leader in the Balkans and Europes hub for connection with Asia.

Sofia Airport is located 5km east from the center of Sofia, the capital of Bulgaria. The 35-year concession concerns the operation and management of all buildings, facilities and visual air navigation systems within the airport territory. It also involves the construction of a third terminal, which must be completed by the tenth year of the concession.

The signing of the concession agreement was delayed due to appeals from the competing consortiums. Sof Connect was selected as a preferred bidder in July 2019 after their technical bid received 100 points. The court ruled in favor of the decision of the state.

Sof Connect consortium consists of Meridiam, Strabag and Munich Airport. The consortium will pay an annual concession fee of EUR 24.54 million (USD 28.36 million) to the state.

Sof Connect offered the lowest investment proposal of EUR 608 million (USD 703 million) of all five competing participants. Nearly the third of the funds will be own capital and the rest will be provided by the international financial institutions.

The project will be implemented in several stages. The first two years will see the two-terminal overhauled and the new parking will be built. Security checks and passport controls in international flights will be enhanced. Terminal 2 will increase its capacity, the shopping area will be expanded with the shops and dining area.

The next stage is the development of the airport by 2030 when the new Terminal 3 will be built and the current Terminal 1 will be decommissioned.

The third phase involves the expansion of Terminals 2 and 3 and the construction of a new cargo terminal on the site of decommissioned Terminal 1.

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