Bulgaria Opposition Urges Ban on Russian Funding for Nuclear Project

Business » ENERGY | April 22, 2009, Wednesday // 13:36
Bulgaria: Bulgaria Opposition Urges Ban on Russian Funding for Nuclear Project The government has estimated Belene costs at EUR 4 B but analysts and sources have said the price tag may tower to EUR 10 B. Photo by BGNES

Bulgaria's rightist opposition urged parliament to impose a moratorium on the contract for Russian funding for the country's second nuclear power plant of Belene, which faces a delay over funding problems.

The Socialist-led government and German utility RWE have signed a deal to build Bulgaria's second nuclear power plant of Belene by 2014-2015.

The opposition call comes in response to the ruling coalition's efforts to secure Russian funding for the construction of Belene nuclear power plant shortly before its term expires in the summer.

Democrats for Strong Bulgaria, the right-wing party of former Prime Minister Ivan Kostov, claims that the government is in talks with Russian banks on a BGN 7.5 B loan for Belene.

"The loan will translate into a BGN 1300 tax burden for each Bulgarian taxpayer, electricity hikes for decades on end, outdated and dubious Russian nuke units," MP Ivan Ivanon said on Wednesday.

The government has estimated costs at EUR 4 B but analysts and sources have said the price tag may tower to EUR 10 B.

The government chose last year German power utility RWE to become a strategic partner in the Belene project with a stake of 49%. State power utility NEK has a majority stake in the plant.

Bulgarian Prime Minister Sergey Stanishev will pay a visit to Moscow next week and Belene is expected to be on his agenda.

 

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