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Bulgaria picks Munich Airport Consortium to Run Sofia Airport

Infra News - Published on Mon, 22 Jul 2019

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Reuters citing Mr Rosen Zhelyazkov, the transport minister, reported that Bulgaria has picked a consortium comprising asset manager Meridiam and the operator of Munich Airport to run and operate Sofia Airport, the Balkan country’s main air transport hub. The consortium, named Sof Connect, had won the tender for a 35 year concession for the airport over four other contenders after a special commission at the ministry evaluated their bids. The commission has taken into account the credibility and the sustainability of the offered model for the airport’s development that include financial and business models.

The consortium, which includes the operator of Germany’s second biggest airport, has offered an annual concession fee of USD 27.47 million or 32% of annual revenues. It has also pledged to invest EUR 608 million in the airport. Bulgaria had been looking to secure about EUR 550 million from the deal, including fees of EUR 7.7 million a year, plus a EUR 280 million upfront payment. It also asked for an investment of EUR 600 million to cover the building of a third passenger terminal and other things.

A consortium led by France’s Aeroports de Paris, which had offered the highest concession fee and investment of EUR 903 million, was ranked second. Other bidders included Germany’s Fraport, Britain’s largest airport operator, Manchester Airports Group, in a tie-up with China’s construction firm BCEG, and a tie-up between Copenhagen Airports and SSB Sauernwein & Schaefer.

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Posted By : Mohan Sharma on Mon, 22 Jul 2019
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