SOF Connect attracts over BGN 900 million in investments in Bulgaria

The concessionaire of Sofia Airport - SOF Connect, confirmed its commitment, despite the crisis, to immediately make long-term investments in Bulgaria worth over BGN 900 million and to work with all responsible and interested parties for the future development of Sofia Airport.

"We are fully prepared to pay BGN 660 million with VAT initial concession fee to the state budget of Bulgaria, and the total amount of our capital investments has been increased to 624 million euros (about BGN 1.22 billion) without changing our commitment to build a new one Terminal 3 to the tenth year of the concession, ”said at the meeting Mr. Marco Rosso, Director of Global Business Development and Partner at Meridian / Member of the Supervisory Board of SOF Connect. The meeting was also attended by members of the operational management from Munich Airport, who will lead the transformation of Sofia Airport.

As a result of the concession, there will be a significant increase in investments in the airport, which will benefit passengers and which will position Sofia Airport as the leading airport in the region. In addition, the financial benefits for the state budget will increase significantly.

Restoring the economic balance of the concession and postponing the payment of annual concession fees for the first 10 years is absolutely necessary to maintain the financial stability of the airport and to implement the large-scale investment program, despite the unprecedented decline in air traffic and the worst crisis in the history of the aviation industry so far.

Meridiam is an established and recognized investor in public infrastructure, providing € 70 billion in construction capital, managing € 7 billion in capital and investing in 90 public infrastructure projects in 26 countries around the world, including LaGuardia Airport in New York. Meridiam is investing in the long term (with a term of more than 25 years), and investors in it are insurance companies, pension funds and development banks such as the European Bank for Reconstruction and Development and the European Investment Bank.