Bulgarian PM Alleges of High-Rank Fraud at Start of Belene NPP

Business » ENERGY | June 26, 2011, Sunday // 14:59
Bulgaria: Bulgarian PM Alleges of High-Rank Fraud at Start of Belene NPP File photo of Bulgarian PM Boyko Borisov at the site of the yet to be constructed Belene NPP. Photo by BGNES

There is enough evidence that high-ranking Bulgarian officials have criminally mismanaged the Belene NPP project since its relaunch in 2006, according to Bulgarian PM Boyko Borisov.

"Enough materials have been sent to the prosecutor. It is high time that certain people are formally charged," said Borisov Sunday.

He was commenting criticisms about his cabinet's stance to the project, which chiefly state the Bulgarian government is not committed enough.

"There are politicians in Bulgaria who just keep talking to hide what damage they have done. They have done nothing but spending EUR 0.5 B just to clear the building ground, i.e. they have drained funds," said the Bulgarian PM.

Bulgaria is currently reviewing the financial and economic aspects of the Belene NPP project, having commissioned a study to that effect with HSBC.

To boot, Bulgaria and Russia are in a dispute over the price of the whole project, with the Bulgarian party arguing it is excessively high and unclearly formed.

Saturday it became clear that the Russian party had not honored a request from Bulgaria for a three-month moratorium on the project as of July.

If that does not happen, Bulgaria has to sign a contract for constructing Belene NPP by the deadline of July 1, or face a lawsuit by the Russian party for breach of contract.

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Tags: HSBC, Russia, Boyko Borisov, Belene NPP, Rosatom

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