MARITSA EAST SAGA NEAR END

Business | June 11, 2001, Monday // 00:00

The contracts with the US investors AES and Entergy on the rehabilitation and construction of new units of TPPs `Maritsa-East` 1 and 3 will be sealed on June 13 in a non-public ceremony, was announced today. In the meantime AES announced that the company will sue deputy chairman of the Socialists Party Rumen Ovtcharov for spreading out rumors that a consultancy company made out USD 120 M commission from the deal. The total investment in Maritsa East amounted to $1,4 Bln. The agreement with AES is on building up two new units of TPP `Maritsa-East 1`. The best offer to execute the project was submitted by the international `Alstom Power` company, said sources from AES. The construction works of the power plant worth more than EUR 650 M. The contract on building up the equipment, supply and construction is to be signed within two months under the new government. The project of Entergy is on the rehabilitation and modernization of TPP `Maritsa-East 3`. Its total investment amounts to $470 M and the German-based `Babckok Borsig` is the executor preferred.

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