A PYMNTS Company

Bulgaria: Competition regulator cancels Vidin South port terminal concession

By  |  February 27, 2017

Bulgaria’s competition regulator said it has cancelled a contract awarding a 35-year concession on Vidin-South port terminal, on the Danube river, to local company SKM Port Vidin.

The commission in charge of awarding the concession has failed to include all interested companies in the selection process, the Commission for Protection of Competition said in a statement last week.

The contract, awarded by Bulgaria’s government in November 2016, envisaged an annual fixed concession fee of 8,060 levs ($4,400/4,100 euro) plus 1.76% of its net revenues from the operation of the port terminal exceeding the level of 252,000 levs.

In addition, SKM Port Vidin had to invest 3.7 million levs in the port terminal during the term of the concession contract.

The Vidin-South terminal is part of the Port of Vidin, which also includes Vidin-Center, Vidin-North and Vidin Ferryboat Complex.

Full Content: See News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.