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CZECH INVESTOR DEEPLY DISAPPOINTED
Business | June 2, 2001, Saturday // 00:00
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`We are deeply disappointed from the privatisation procedure in Bulgaria as Energo Pro was selected exclusive buyer for a water cascade in November 2000, we signed a preliminary contract and then was informed that the deal was cancelled. How can we say to any other international company – come and invest here`, Jiri Krusina, Chairman of the board said. The Czech Energo Pro company, nominated as buyer of Sandanska Bistritsa cascade at the end-2000, complains against a decision of the Privatization Agency (PA) to terminate the procedure. The Sandanska Bistritsa procedure is stopped since the parameters attained are unprofitable for the seller, commented PA`s Director Levon Hampartsoumian. Currently the decision is appealed at the Supreme Administrative Court. As early as November 16, 2000 the former PA`s Director earmarked the Czech Energo Pro company as an exclusive buyer. The contract was to be signed in 30-day term at the agreed price of $33 M.
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