Bulgaria's FinMin: Belene Price Is Great Success

Business » ENERGY | December 6, 2010, Monday // 08:53
Bulgaria's FinMin: Belene Price Is Great Success: Bulgaria's FinMin: Belene Price Is Great Success Bulgaria's Finance Minister, Simeon Djankov, does not discard the possibility the plan to build a second Nuclear Power Plant could flop. Photo by Sofia Photo Agency

The agreement between Bulgaria and Russia for the EUR 6.3 B price of the future Nuclear Power Plant in the Danube town of Belene can be seen as great success.

The statement was made by Bulgaria's Finance Minister, Simeon Djankov, in an interview for the TV channel Nova Televizia.

Djankov pointed out the price is not final, adding it could have been as high as EUR 9.4 B when taking into account the inflation.

"The price of EUR 6.3 B is high and we will negotiate to lower it, but to fix it at this amount right now is still great success," the Finance Minister said.

According to Djankov, the signing of the memorandum with the Russian Rosatom is only establishing the frame for the future negotiations on Belene, and the real analysis and talks are forthcoming.

The Minister also commented on accusations coming from the left-wing the agreed price is national treason, saying the opposition must criticize, but in this situation the Bulgarian Socialist Party (BSP) simply appears ridiculous.

Djankov explained there are four plans for Belene – to finance it through a loan granted to Bulgaria's National Electric Company (NEK), to use Russian financing, to find European or Chinese investors and to not build it at all. He confirmed China's strong interest in the NPP.

In case the plant never becomes reality, the State must make energy consumption more effective by using alternates – water or bio energy or build a new unit at Bulgaria's NPP Kozloduy, according to the Minister.

Djankov further informed the cabinet is expecting to receive shortly the independent analysis for the feasibility of Belene, which is now being prepared by the UK-based bank HSBC, reiterating tough negotiations with Russia do belong to the future.

"Bulgaria's biggest trump card is the fact the NPP is on EU territory. So "the battle" is not between 7 million Bulgarians and 150 million Russians, but between 450 Europeans against 150 million Russians," the Finance Minister stated.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: finance minister, Simeon Djankov, Nuclear Power Plant, NPP, Belene, Kozloduy, Rosatom

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria