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Concessions


The interest of private investors in the prospecting, exploration and mining of underground mineral resources, the use of the numerous mineral water springs for bottling, and the national road network made Bulgaria an attractive destination almost immediately after the political change in the early 1990’s.

This interest implied for PM&P the challenge to advise its foreign clients in the continental shelf prospecting tenders and in the establishment of a company to complete the building and to operate Trakia motorway in total absence of legal framework, only on the basis of the direct effect of constitutional provisions.

The detailed legal framework of concessions emerged in the privatization years (1995) and it has been subjected to frequent and substantial changes. Even in its present-day shape it still needs amendments with a view to fully harmonizing it with the EU legislation in this sphere. The PM&P team has contributed greatly to the development of the legislative drafting process, particularly with its active involvement in the drafting of the earliest Concessions Act and the existing law.

The practical experience of the law firm and the thorough knowledge of the special legislation have enabled it to give advice in many large-scale projects, including the warehouse terminal of the Varna West sea port, the possible introduction of the IRIDIUM global mobile telecommunication system, the acquisition of the Bankia mineral water bottler by Coca-Cola Hellenic Bottling Company, the concession of Hemus motorway to Salini Costruttori and Trakia motorway to MSF-Lena-Somague. Currently, the PM&P team is the advisor to the Ministry of Transport, Information Technologies and Communications in connection with the possible concessions of the airports in Sofia and Balchik.

 

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“Penkov Markov & Partners “one-of-a-kind” practice is “accessible, knowledgeable, accurate and responsive”… Name partners Vladimir Penkov and Ivan Markov are “exceptional practitioners.”“
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