Oman Oil has expressed interest in investing in a EUR 4 B nuclear power plant in Bulgaria and in a trans-Balkan oil pipeline.

During a visit of Energy Minister Rumen Ovcharov to Oman, the company said it was ready to take part as a strategic investor in a 2,000 MW nuclear plant on the Danube river town of Belene, the energy ministry said in a statement.

Minister Ovcharov and his Oman counterpart Ahmed Makki signed a bilateral agreement on protection and encouragement of investments. A memorandum of agreement between Bulgaria and Oman's Chamber of Commerce and Industry was also signed during the delegation's official visit to Maskat on February 3-4, the statement added.

Oman Oil has said it was ready to invest in a EUR 700 M trans-Balkan oil pipeline that would carry Urals and Caspian crude from Bulgaria's Burgas to the Greek port of Alexandroupolis.

Bulgaria, Greece and Russia are due to sign a draft agreement on construction of the pipeline on February 7.

However, the Bulgarian misnitry did not give details on the amount of the possible investments or timelines for any of the projects.

Bulgaria contracted Russia's Atomstoryexport to build a second nuclear plant at Belene as it aims to keep its position of leading power exporter in southeast Europe after the closure of two 440 MW units at the Kozloduy nuclear plant.

The EU newcomer plans to keep a 51% stake in the new plant and is seeking a strategic investor for the remaining shares.

It has said it plans to seek investment from the export agencies of the selected builders - Russia, France and Germany - and from leading investment banks, Europe's Euroatom and the European Investment Bank.

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