Over EUR 1 B Invested in Bulgaria's Energy Sector in 2003

Business | December 5, 2003, Friday // 00:00| Views: | Comments: 0
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Over EUR 1 B have been invested in Bulgaria's energy sector in 2003, the country's Energy Minister Milko Kovachev announced on Friday during a parliamentary session.

Kovachev said that the Energy Ministry is actively working on the execution of the major investment project for the construction of the second Bulgarian nuclear plant in the town of Belene.

When asked for the sale of the Bulgarian Bobov Dol coal-fired thermal power station, Milko Kovachev explained that the ministry is currently working on a strategy for the coal output.

The energy minister revealed that over the first 8 months of 2003 energy consumption in Bulgaria's industry has gone up by 7.9%, while household consumers have increased their energy consumption by 3.3%.

Kovachev said that the successful privatization of Bulgaria's seven power distribution utilities will lead to decreasing the risks faced by most of the suppliers in that sector. In his words this will create more favorable conditions for a non-political management of the energy sector.
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