Bulgarian Energy Minister: EUR 7 B Unrealistic Price for Belene Nuclear Power Plant

Business » ENERGY | November 15, 2010, Monday // 13:11
Bulgaria: Bulgarian Energy Minister: EUR 7 B Unrealistic Price for Belene Nuclear Power Plant Bulgarian Energy Minister Traicho Traikov declared EUR 7 B an unrealistic price for Belene. Photo by BGNES

The Bulgarian government will not accept a final price of EUR 7 B for the construction of the Belene Nuclear Power Plant by the Russian company Atomstroyexport, Bulgarian Economy and Energy Minister Traicho Traikov, stated.

The price Minister Traikov cited would include infrastructure costs of about EUR 700-800 B plus an additional EUR 500 B for consultants, as he explained.

"Therefore, if those additional EUR 1.3 B are excluded from the price, we would have a final price as we comprehend it – about EUR 5.5 B," the Bulgarian Economy and Energy Minister added. He clarified that no new Russian offer has been received up to now.

"We have enough time on our hands for additional negotiations with Russia concerning Belene, we are not in a hurry", Traikov declared.

Bulgaria and Russia were expected to shake hands on the Belene Nuclear Plant project Saturday, November 13, when a delegation headed by Russian Prime Minister Vladimir Putin arrived in Sofia in order to sign a series of crucial energy agreements with his Bulgarian counterpart Boyko Borisov. However, the focus of Putin's visit turned out to be mainly on another project – the South Stream gas pipeline.

While refusing to reveal the price that Russia's state nuclear energy corporation Rosatom and its subsidiary Atomstroyexport offered to Bulgaria for Belene, Putin said on this occasion that he expected that Bulgaria and Russia will sign an agreement for equipment for the Nuclear Power Plant by the end of 2010.

"The price of EUR 4 B for the construction of Belene is not correct. That is why we requested that experts from both countries determine a final, set price, calculating the interest, so that we know that Belene will cost this many and this many billions," Bulgarian Prime Minister Boyko Borisov commented Saturday.

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Tags: Belene, Traicho Traikov, energy, Vladimir Putin, price

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