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CMS Advises EKO Bulgaria on EUR 51 Million Framework Agreement with Ministry of Finance

CMS Advises EKO Bulgaria on EUR 51 Million Framework Agreement with Ministry of Finance

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CMS has advised Hellenic Petroleum Group subsidiary EKO Bulgaria in the EUR 51 million public procurement process organized by the Bulgarian Ministry of Finance for the delivery of fuel needed by the administration entities under its executive purview.

According to CMS, "the tender process resulted in the parties entering into a EUR 51 million framework agreement, which encompasses the delivery of fuel to meet the operational requirements of all state administration entities under the executive purview of the Ministry."

EKO Bulgaria entered the Bulgarian market in July 2002 as part of the Hellenic Petroleum Group, an industrial and commercial corporation in Greece and a player in the energy sector in Southeast Europe. EKO Bulgaria operates a chain of 95 petrol stations in the country.

EKO Bulgaria will fulfill its contractual obligations by issuing cashless payment cards to the Ministry of Finance and its associated executive authorities, the firm reported. "The specific quantities procured during the framework agreement's implementation period will be contingent on the current needs of the respective administrations, in accordance with their budgetary constraints."

The CMS team included Managing Partner Kostadin Sirleshtov and Associate Diyan Georgiev.

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