MARITSA EAST DEALS SIGNED FINALLY

Business | June 13, 2001, Wednesday // 00:00

The contracts with US companies AES and Entergy for new construction and rehabilitation of TPPs Maritsa-East 1 and 3 were signed today at the Council of Ministers. The deals were approved last week by the cabinet and this raised political torts. King`s economic team and Bulgarian Socialists Party leader Roumen Ovcharov plead Kostov`s cabinet not to seal the deals before the General Election June 17. Total investment will be $1,4 Bln. Initially the Bulgarian National Electricity Company (NEK) will purchase the electricity at $0.03 from Entergy and at $0.043 from AES. Danail Tafrov, NEK CEO assured that there won`t be an increase in the electricity prices. All three strategies drafted for price development envisage drop of prices. It took more than one year negotiations and uncertainty to reach an agreemnet with the government. Experts remind the strong pressure provided by US government, but they say the coming elections were more important reason to speed up the deals.

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

Business » Be a reporter: Write and send your article

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