In June, in an attempt to create much-needed revenue, the Bulgarian government granted a 35-year concession for two freight terminals in the countries largest port in Burgas. Navibulgar, the new concessionaire, was the only candidate remaining, after all other applicants pulled out because of the complicated proceedings. (Images Copyright by Mariela Zamfirova & Johann Brandstatter)
Navibulgar is the new operator of the bulk cargo terminal and Terminal 2A in the Port of Burgas. The company should invest 45.5 Million Euro over the next seven years and has to repay 80% of a 129 Million Euro loan from the Japan Bank for International Cooperation. The new concessionaire also agreed to keep a minimum of 288 workers employed.
The current number of employees is reported to be 1,018 and the unions foresee layoffs of about 800 workers over the next few years. As a second blow to the labour market in the Burgas province, the Bulgarian government closed the Russian Lukoil oil refinery earlier this week.
For more images from the Port of Burgas go to JB Photography.
(Sources: Middle East & Balkans News, Images by Mariela Zamfirova & Johann Brandstatter; 31 July 2011)