Projects

BMF Port Burgas

Transport and Logistics

3SIIF acquired a significant minority stake in BMF Port Burgas (BMF), a private multi-cargo port operator that operates two terminals in the Port of Burgas, the largest port of Bulgaria. BMF operates under long-term concessions granted by the Bulgarian Government.

Sector

Transport and Logistics

Location

Burgas, Bulgaria

Status

Operational

Equity ownership

Significant minority

Financial close

July 2022

About

BMF is strategically positioned in the Burgas bay region and the port serves as a critical link connecting Europe with Asia and the Middle East.

BMF stands as the nearest deepwater port to the Bosphorus, playing a pivotal role as the primary maritime gateway to Sofia and Plovdiv, Bulgaria’s major industrial cities. The city of Burgas marks the endpoint of the Sofia–Plovdiv–Burgas railway line and is part of the Trans-European Transport Corridor (TEN-T). BMF is also a member of the Trans-Caspian Transport Route Association promoting the Middle Corridor, a vital link extending from Southeast Asia and China through Kazakhstan, the Caspian Sea, Azerbaijan, Georgia, and into European countries.

3SIIF’s investment offers a significant opportunity to support the long-term growth of the port with substantial follow-on investments to expand capacity and capabilities. These investments include the extension of existing berths and construction of new berths, the modernisation of terminal facilities to expand capacity and enable the handling of new types of cargo. The long-term growth of BMF will support existing and create new industrial production capabilities in Bulgaria and the broader region.

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Key impacts and benefits

Total capital mobilised including expansion capex

>€ 0 m

Number of employees

> 0

largest employer in the region

Tonnes of CO2 emission p.a. to be avoided

0,000

due to construction of a new sustainable deepwater container berth

Why we invested

The investment thesis focuses on strong growth potential linked to the strategic location, a substantial capex program to enhance capacity and productivity, robust rail and road connectivity, a diverse and balanced cargo mix, and long-term contracts with minimum volume guarantees. The investment aligns with 3SIIF's mission to bolster regional connectivity, strengthening EU integration by addressing infrastructure gaps and fostering economic growth.

Regional connectivity: BMF is located on the Black Sea and acts as the main maritime gateway to Sofia and Plovdiv, Bulgaria’s most developed and industrialised cities, through direct rail and road connections.
Growth potential: The growth in throughput over the next 10 years is forecast to average over 6% p.a., exhibiting a high correlation with the Bulgarian GDP which is also expected to grow strongly.
Greenfield capex: BMF has significant capex planned over the investment horizon to address capacity constraints and enable the handling of new types of cargo.

Sustainable Development Goals (SDGs)

2030 Agenda for Sustainable Development adopted by UN Member States in 2015

SDGs supported:

Outcomes

BMF achieved a record-breaking cargo handling performance in excess of 7.2m tonnes of throughput in 2023
In the first half of 2023, BMF gained an additional 5% market share, reaching a solid 49% share in Bulgaria, affirming its role as a significant force in the maritime sector

BMF Port Burgas

About

Why we invested

Sustainable Development Goals (SDGs)

Outcomes

Angel Trains

BeNEX

Gold Coast Light Rail