Projects and PPP in Bulgaria


CMS advises major energy producers, including electricity suppliers, upstream oil and gas companies, and energy investors, on large-scale projects and on their participation in bidding and tendering processes. The firm has advised participants in major tender procedures to build airports, roads, railways, and pipelines. Kostadin Sirleshtov, joint practice head, also leads the firm’s energy practice, while co-head Dimitar Zwiatkow has experience in public procurement procedures, structuring of consortia, and advising winning bidders on the implementation of their projects. Denitsa Dudevska and Antonia Kehayova are key contacts for mining and real estate projects, respectively.

Key clients


EVN Elektrorazpredelenie YUG EAD


Robert Bosch

EVN Toplofikazia


Bombardier Transportation

Sofia Municipality

China Communications Construction Company

Scholz Recycling

The largest PV producers in Bulgaria including RES Technology, ASM-BG Investicii, SDN Company Ltd./Korean South East Power Company, Wind Force BG, and Eco Farm


Wind energy producers including Iberdrola, Green Power Development Holding B.V. (Mitsubishi Corporation), Efacec

HNA Airports Ltd.

UniCredit Bulbank, Societe General Expressbank



Revetas Capital Advisors

Work highlights

  • Representing China Communications Construction Company in its bid for a €500m contract to modernise the Elin Pelin – Kostenets railway line.
  • Advising Hainain Travel and Traffic Company in relation to its €60m contract to operate and improve Plovdiv Airport.
  • Advising Corinth Pipeworks in its participation in a tender to construct a part of the ICBG pipeline.

Dinova Rusev & Partners

Dinova Rusev & Partners has advised participants in major public procurement processes concerning infrastructure, resource extraction, and manufacturing. Project work includes advising mining companies on opening and operating mines in Bulgaria, advising them on regulatory compliance, agreements with subcontractors, labour regulations, and concession issues. Anelia Dinova leads the practice, and has experience in green field development. Georgi Vladov focuses on real estate projects, while Iliya Grozdanov has extensive experience in energy and environmental regulation compliance.

Practice head(s):

Anelia Dinova

Key clients

Dundee Precious Metals Bulgaria

3M Communications

4finance EOOD

Assos Capital

Sofia South Ring Mall AD

Imerys Minerals Bulgaria

Is Bank

Thompson Global Ltd.

IL Cosmetics S.A. Luxembourg

Work highlights

  • Advising Dundee Precious Metals Bulgaria on the finalisation and opening of €180m gold mine.
  • Representing Terna S.A. in appealing public procurement decisions regarding the winner of a €3bn railway construction project.
  • Advising Imerys Minerals Bulgaria on concessions and joint projects with the state.

Djingov, Gouginski, Kyutchukov & Velichkov

The projects and PPP team at Djingov, Gouginski, Kyutchukov & Velichkov has advised on some of the largest public infrastructure projects in the country, including railway construction, manufacture of rolling stock, and airport construction and operation. The firm also has experience in PPPs outside of the infrastructure sector - it advised the state-owned fund manager on participation in open tender procedures at the European level, and advised the military contractor Patria Land Oy in a bid to supply armoured vehicles. The team, jointly led by Milan Pandev, Stephan Kyutchukov, and Nikolai Gouginski, has also acted on high-value mandates for private clients in the real estate and energy sectors. Anton Krustev and Kaloyan Krumov are experienced in public procurement, and real estate issues, respectively.

Key clients

Abalta Technologies EOOD

Abbaty AD


Accentive Management Ltd.

Agrotechservice EOOD

Alstom Transport

Andor Technology Ltd.

AP Investments AD


Belfry PE Ltd


Cleantech Bulgaria

Chrono OOD

Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF SA)

ERG Insaat Ticaret ve Sanayi AS

Eurolease Auto EAD

European Bank for Reconstruction and Development (EBRD)

Fund Manager of Financial instruments in Bulgaria EAD

Gazprom Marketing & Trading Limited

GE Renewable Energy – Hydro

General Electric Healthcare

Intersel Bulgaria EOOD

International Currency Exchange EOOD


JBT Corporation

Nexter Systems


Siemens AG

Work highlights

  • Advised Construcciones y Auxiliar de Ferrocarriles, S.A. (CAF S.A.) on a €345m bid to supply and maintain 42 new trains for Bulgarian State Railways.
  • Assisted Bulgarian Mezzanine Partners with a €38.5m competitive tendering procedure to collaborate with the Fund Manager of Financial Instruments in Bulgaria, a state-backed investment fund.
  • Represented Belfry PE Ltd in their bid to win out a €696m contract to build, refurbish, and maintain the Elin Pelin – Kostenets and Kostenets – Septemvri railway sections.

Kambourov & Partners

Kambourov & Partners handles large-scale infrastructural, real estate, and energy projects, with experience in public procurement processes. The firm advises participants in public tenders for gas pipeline construction, metro design and construction, and electronic fee collection. Projects include oil and gas exploration, factory expansion, and construction of office buildings. The team is headed up by Stefan Tzakov, experienced in concession procedures and tender award litigation, and Atanas Shopov, who has extensive experience in public procurement procedures in a variety of sectors.

Practice head(s):

Stefan Tzakov; Atanas Shopov


‘Kambourov & Partners are very flexible. Partners are hands-on and involved in every project. The firm can handle very complex multiphased projects and transactions.’

Key clients

Consortium SOF Connect


Tesla Inc.

Urban Creatures


Park Lane Developments

Kapsch Trafficcom AG


Witte Automotive Bulgaria

Kaufland Bulgaria

Worldview Economic Recovery Fund / Petroceltic Group

Societa Appalto Lavori Pubblici S.p.A (SALP), Italy

Citygas Bulgaria

Work highlights

  • Advised the Arkad Consortium on their participation in a €1bn tender process to build a section of the TurkStream gas pipeline.
  • Advising Tesla Inc. on their entry to the Bulgarian market.
  • Providing ongoing advice to Monolit Jsc. on meeting their contractual obligations to build a section of Sofia’s metro.

Wolf Theiss

Wolf Theiss advises on high-value public procurement and concession procedures in strategic industries. The firm has advised participants in tenders for pipeline construction, military fuel provision, telecommunications systems, and airport infrastructure. It draws on the strength of its corporate and commercial and banking and finance know-how to offer expertise in financing for major projects with a particular focus on energy, resource extraction and commercial real estate projects. Finance specialist Anna Rizova leads the team, while Radoslav Mikov and senior associate Oleg Temnikov are highly experienced in energy matters. Atanas Mihaylov offers expertise in construction and EPC agreements, and senior associate Katerina Novakova handles public procurement work.

Practice head(s):

Anna Rizova

Key clients

Edison Trading


Axpo Bulgaria

Frea Axpo

Arco Capital Corporation

Work highlights

  • Advising a leading Chinese EPC contractor in relation to its participation in a tender for an EPC contract for the construction of a 10MW solar plant in North Macedonia.
  • Advising a leading European infrastructure company in the development of a $10bn  gas pipeline.
  • Advising World Fuel Services Corporation in a tender for provisions of fuel to military units of NATO.

Andrey Delchev and Partners - Eurolex Bulgaria

Andrey Delchev and Partners - Eurolex Bulgaria has considerable expertise in the regulatory regimes governing public procurement procedures and concession and tendering processes. The firm also has  undertaken work for the Bulgarian Council of Ministers to review and amend the current legislation governing this area. The firm assists municipalities and administrative bodies, but also acts for construction, energy, and sanitation companies on their participation in bidding procedures. Andrey Delchev leads the team, with Magdalena Valova offering experience in drafting tender documentation for clients in the construction and transport industries.

Practice head(s):

Andrey Delchev


‘A first class PPP team that has a great knowledge and understanding of the PPP sector and the transportation sector in Bulgaria. ‘


Key clients

Consortium “European Railways”

Council of Ministers

DK Energy Bulgaria EAD

Ministry of Environment and Waters

Ministry of Regional Development and Public Works

Ministry of Transport, IT and Communications

Municipality of Plovdiv

Municipality of Ruse

Municipality of Veliko Tarnovo

Sofia Municipality

Trace Group Hold

World Bank

Manchester Airport Group

Work highlights

  • Advising the consortium “European Railways” on their participation in a €40m railway infrastructure development project.
  • Advised the Bulgarian Council of Ministers on conducting a review of the regulations governing public procurement and concession procedures.
  • Advised Ruse Municipality regarding structuring a concession procedure to develop a €4.6m stadium.

Arsov Natchev Ganeva

Arsov Natchev Ganeva assists client on the structuring and participation in PPP projects. The firm has assisted the Ministry of Transport, Information Technology and Communications in structuring the concession procedure for Baltchik Airport, and advises private companies on bids to provide technical maintenance for railway systems, to build gas transmission infrastructure, and to operate water and sanitation services on behalf of Sofia municipality. Svetlana Ganeva and Dessislava Lukarova head the practice.

Key clients

First State Investments International Limited

Veolia Group & Sofiyska Voda (Water services operator of Sofia)

Ministry of Transport, Information Technology and Communications of the Republic of Bulgaria

Stadler Hungary & Stadler Bussnang AG

Arkad Engineering and Constructions Company

Work highlights

  • Advised First State Investments International Limited and its Consortium partner the Spanish airport operator AENA in preparing their joint bid in Sofia Airport Concession procedure.
  • Advised Veolia Group and Sofiskya Voda on their participation in a €10m concession procedure to provide sanitation services in Sofia.
  • Provided consultation to Stadler Hungary and Stadler Bussnang AG on their participation in a five year, €70m concession procedure to provide maintenance on trains belonging to the Bulgarian Railway Company.

Boyanov & Co.

Boyanov & Co.’s projects practice draws on the strengths of its real estate and energy practices. The team seeks to cover a project throughout its life cycle, including on arranging financing, supporting the lease or acquisition of project land, and advising on all zoning, planning, and construction issues that may arise. The team is jointly led by Alexander Chatalbashev and Nickolay Nickolov. Senior associate Mihail Vishanin provides expertise in public procurement and concession procedures.

Key clients

Baumax Bulgaria OOD

Behr-Hella Thermocontrol GmbH

Bulgaria Air Maintenance AD

Cleves EOOD

Eurobank Bulgaria AD

EVN Elektrorazpredelenie EAD (Bulgaria)

EVN Elektrosnabdyavane EAD (Bulgaria)

EVN Trading South East Europe EAD

Fraport AG


Hystead Limited (a subsidiary of South African Hyprop Investments Limited and PDI Investment Holdings Limited)

Ideal Standard

Iskander Energy Corp. (Canada)

Kamenitza AD (a Molson Coors brewing company)

Markan Holding

Mondelez International (former Kraft Foods International)

NBG Pangaea REIC


Park Place Energy Corp. (Canada)

Sevlievo Gas (Bulgaria)

SGRF of Oman

Societa Petrolifera Mediterranea Srl.

Sunowe Solar GmbH (Germany)

Westinghouse Electric Company

Embassy of Peoples Republic of China

Silver Star group of companies (subsidiaries of Parkview International, Inc.)

Trelleborg Sealing Solutions Bulgaria

Work highlights

  • Advised Fraport A.G. on its bid for the concession of Sofia Airport.
  • Representing Silver Star on the acquisition of two plots of unconstructed land to build a Mercedes service centre and showroom.
  • Advised ITower Development on the zoning, construction and financing aspects of a planned office building in downtown Sofia.

Dimitrov, Petrov & Co

Dimitrov, Petrov & Co  provides advice on projects in the telecommunications, manufacturing, mining, real estate, and energy industries. The firm is experienced in assisting international clients with entry into the Bulgarian market. Public procurement is another strength; the team has advised on the Sofia Airport Concession, as well as clients participating in bids for railway construction and the supply of vehicles to the government. Joint practice heads Boyana Milcheva and Metodi Baykushev offer experience in real estate matters, and public procurement litigation proceedings, respectively.


‘The team’s key strength is their client-oriented approach, backed up by in-depth legal knowledge and good understanding of the business specifics.’

‘They manage to perceive the assigned task, irrespective how complex it might be, and figure out a working solution, backed up by reasonable legal argumentation.’

‘What makes DPC a unique law firm is the way they communicate with the client. Their experienced and cooperative legal experts can erase every doubt in your project’s success and make you feel relaxed and confident.’

Key clients

MAG – Manchester Airport Group

Sky Fiber

Telenor Bulgaria

Alpiq Energia Bulgaria EOOD


Trakya Glass EAD

Man at Work

Pilko EOOD

VM Petroleum JSCo. / Tradenet Varna Ltd.

Pasabahce Bulgaria EAD

Work highlights

  • Advised the Agrix Group of companies in a major business expansion, advising on 136 land transactions, totalling €8.5m.
  • Advised the Bulgarian subsidiary of the Sisecam Group in obtaining a concession for the exploration and mining of non-metalliferous minerals.
  • Advised Alpiq on its entry into the Bulgarian energy market.

Schoenherr (in cooperation with Stoyanov & Tsekova)

The team at Schoenherr (in cooperation with Stoyanov & Tsekova) works on major projects in natural gas exploration and pipeline construction, and is experienced in assisting with the development of commercial real estate and manufacturing facilities. The firm also has experience in public procurement procedures, having advised Alstom on its bid for a €65m concession to maintain public rail cars. Stefana Tsekova and Alexandra Doytchinova jointly head up the practice.

Key clients


OMV Bulgaria


Smurfit Kappa




UniCredit Bulbank AD (Bulgaria)

Société Générale Expressbank, Bulgaria



Work highlights

  • Represented Woodside Energy in the acquisition of 30% from the exploration rights in Block Khan Kubrat 1-14 in the Black Sea.
  • Represented Edison on Bulgarian legal corporate and regulatory matters related to the second construction and financing phase of the ICBG pipeline.
  • Advising OMV Bulgaria on the acquisition and development of 3 greenfield projects for the development, construction and operation of filling stations.

Tsvetkova Bebov Komarevski

Tsvetkova Bebov Komarevski advises on bidding processes for transport infrastructure projects, with a particular focus on railway construction. The firm also acts on energy infrastructure concession matters. The team is jointly led by Irina Tsvetkova and Aleksandar Aleksandrov, who focus on real estate planning, and public procurement, respectively. Senior associate Dimitar Grozdanov also has expertise in public procurement procedures.

Key clients


Green light s.r.l.

Bombardier Transportation Italy s.p.a.

PM Electrical

DB Cargo Bulgaria

Work highlights

  • Acted for Bombardier Transportation Italy s.p.a. in its bid for a rail transport construction project.
  • Advising DB Cargo Bulgaria, a rail transport company, on participation in public procurements.
  • Advised PM Electrical, an engineering firm, on a public procurement procedure.

BWSP Ilieva Voutcheva & Co Law Firm

The team at BWSP Ilieva Voutcheva & Co Law Firm has particular experience in public concession matters concerning waste management and water treatment facilities and services. Outside of this specialty, the firm also handles infrastructure tender procedures work includes real estate acquisition and planning advice for property developers. The team is jointly led by Diliana Ilieva and Rossitsa Voutcheva.

Key clients

EcoSafe Ltd.

Toma Nedyalkov

Work highlights

  • Advised EcoSafe in connection with a public procurement procedure to supply waste management services to a specialised hospital.
  • Advised an individual on all matters related to establishing a network of recreational ‘escape rooms’ – a new offering in Bulgaria.

Georgiev, Todorov & Co

Project work at Georgiev, Todorov & Co is chiefly focused on property development and dispute resolution, both on behalf of private developers and on behalf of municipalities. On the PPP side, the firm advises on tender and concession procedures, and acts on behalf of winning and losing bidders.  Miglena Peneva jointly leads the team alongside Ivan Todorov, and takes the lead on real estate matters, while Arno Mamasyan handles public procurement procedures. Alexander Pachamanov and Tsvetelina Dimitrova are also key contacts.

Practice head(s):

Ivan Todorov; Miglena Peneva

Key clients

Sliven Municipality

Este Properties

AG Capital Holding

Ministry of Regional Development and Infrastructure

Evrofutbol Limited

Agricultural State Fund

Putkomplekt 2000

Fund of Funds

Ciela Norma AD

Force Delta


Galchev Engineering

National Association of Building Contractors

Work highlights

  • Advised Force Delta, a security alarm equipment supplier, on a major public procurement procedure.
  • Assisted Galchev engineering with its bid for the contract to build a road from Mezdra to Botevgrad.
  • Advised Este Properties on territorial planning for a €5m development in Sofia.

Kinkin & Partners

The team at Kinkin & Partners  provides 'a high quality of service' in the provision of advice on all aspects of infrastructure projects and related investments and finance. In addition to its expertise in commercial developments such as shopping centers and office buildings, it also advises on power plant, road and other municipal developments. It covers related areas such as real estate and planning issues. Adriana Nacheva leads the team, with senior associate Tsvetelina Stoilova - Valkanova bringing expertise in project financing, and associate Dilyana Tsoleva playing a key role in public procurement considerations.

Practice head(s):

Adriana Nacheva


‘We are very content with the firm’s performance and the high quality of the services they provide.’

‘The quality of the legal services provided by Kinkin & Partners is excellent. The lawyers have shown vast knowledge and skill. Another strength I would point out is the ability to combine individual attorneys’ qualities in order to provide the most accurate, grounded and efficient legal services.’

Key clients


Chuchuline Trading Ltd.

Energy – KA Ltd.

Glass Chem Ltd.

Hydroenergy Ltd.

Laurea Nadezhda Ltd.

Laurea Ltd.

Mime Ltd.

Proekta Tanya Mitakeva Ltd.

Quattro Properties Ltd.

Work highlights

  • Advising Chuchuline Trading Ltd. on plans to remove a municipal street and consolidate its properties into a single unit.
  • Conducting due diligence on behalf of Energy-KA Ltd., on the feasibility of building a hydroelectric power plant.
  • Representing Glass Chem Ltd. on plans to build a road to its production facility.