site.btaConsortium between Chinese HNA Group, Plovdiv Airport Invest Named Concessionaire of Plovdiv Airport

Sofia, March 28 (BTA) - A consortium between the Chinese investor HNA Group and Plovdiv Airport Invest has been chosen as the concessionaire of the Plovdiv Airport, after the relevant procedure, the government's information service said. The Council of Ministers has authorized the Transport, IT and Communications Minister to sign the concession agreement within a term of two months after the decision enters force.

The concession is for 35 years. For this term, the concessionaire undertakes to invest in the facility 79 million euros, for repair works, maintenance and rehabilitation of the existing, and construction of new, infrastructure.

After expiry of a 48-month grace period, the concessionaire is to pay in an annual payment which has a fixed and a variable part. The fixed part is 600,000 leva pre-VAT, and the variable, six per cent of the total amount of the net revenue from all activities pertaining to the use of the facility.

HNA Group is involved in numerous industries including aviation, real estate, financial services, tourism, logistics, and others. Its assets are estimated at 145 billion U.S. dollars, and the revenue, at more than 90 billion dollars annually. The company employs more than 410,000 people worldwide. HNA Group manages 14 air carries with more than 1,250 aircraft, 13 airports with more than 1,000 domestic and international services, which carry more than 100 million passengers annually.