3SIIF makes its first direct investment in Bulgaria
21 June 2022The investment fund “Three Seas” acquired a significant share in BMF Port Burgas — the main port operator of the port of Burgas, from Advance Properties Ltd.
The investment meets the objective of the fund to improve the connectivity within the Three Seas region. Port Burgas is an important infrastructure asset connecting the region with Central Asia and the Middle East, it is strategically located on the Black Sea coast and is the closest port of the European Union to the Bosphorus. The investment will strengthen EU’s integration by increasing its infrastructure opportunities.
In addition to its capital participation in BMF Port Burgas, the fund will support the long-term growth of the port with significant subsequent investments to expand its capacity and capabilities. These investments shall include an expansion of the existing and the construction of new berths, further modernization of facilities and the ability to handle new types of cargo. New industrial production facilities will be created in Bulgaria and the region, with producers and exporters benefiting from the wide range of activities and excellent services of the port.
The investment in BMF Port Burgas represents the first direct investment of 3SIIF in Bulgaria, with 3SIIF already having a presence in the country through the acquisition of a majority stake in Enery, a developer of renewable energy sources in the region with a project pieplane of more than 3GW for the production of energy from renewable sources.