A Central and Eastern Europe-focused infrastructure fund managed by Amber Infrastructure has made its first investment in the port sector.
The Three Seas Initiative Investment Fund (3SIIF) has invested an undisclosed amount to buy a ”significant interest” in BMF Port Burgas EAD, a major port operator in the Port of Burgas in Bulgaria.
Advance Properties OOD will retain a majority interest in the port, which comprises Port Terminal Burgas East II and Port Terminal Burgas West.
The Port of Burgas connects the Three Seas Region with Central Asia and the Middle East, located on the Black Sea coast and is the closest European Union port to the Bosphorus.
The investment in BMF Port Burgas represents 3SIIF’s fourth investment and its first direct investment in Bulgaria.
The 3SIIF fund was set up to make infrastructure investments in the Three Seas Region. The fund’s investment since March 2020 includes the acquisition of Polish locomotive lessor Cargounit, the financing of the construction of the most advanced Tier3/Tier 4 data centre in the Baltics and the acquisition of a majority interest in renewables developer Enery.
Christian Roy, investment director at Amber Infrastructure, said: “The investment in BMF Port Burgas is an exciting opportunity to support the further growth of the Port in accordance with the fund’s objectives. It also marks the first port sector investment of the Fund and the first direct investment in Bulgaria.
”The further development and continued modernisation of the Port will play a key role in filling the transport infrastructure gap in the southeast part of the Three Seas Region while delivering broader economic benefits to Bulgaria and the region.”
Georgi Domuschiev, founder and managing director of Advance Properties OOD, said: “For more than 10 years now, BMF Port Burgas has been substantially investing in the modernisation of the port terminals in pursuance of its growth objectives.
”The continuing development of modern concepts for port activities and services through sustainable and responsible investments in partnership with 3SIIF, will make a meaningful contribution to the transport integration and diversification in the region.
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