The State plans to buy out the shares of the construction company “Tehnoexportstroy” in the Burgas – Alexandroupolis oil line and make the Finance Ministry their owner.

Technoexportstroy is presently in charge of Bulgaria’s participation in the Burgas-Alexandroupolis oil pipeline.

The plan is going to be discussed and decided on Wednesday during the Council of Ministers meeting.

Until now the project was under the management of the Regional Ministry. With the buy out of the “Tehnoexportstroy” shares for BGN 50 000, the ownership will be transferred to the Finance Ministry along with all unpaid debts amounting to EUR 4,690 M. Bulgaria has not paid the installment of EUR 1,225 M for the first quarter of 2010 either.

The money is owed by the State to the Burgas-Alexandroupolis company.

With the Wednesday move, Bulgaria’s Finance Minister Simeon Djankov will be put in charge of the Bulgarian side of the project. The Minister and the cabinet have reiterated their firm position that they cannot and would not make a final decision on whether the country would go ahead with the Russian-sponsored project until there is an environmental assessment ready.

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