Bulgaria's new economy and energy minister has given an indication that the construction of the multi-billion Belene nuclear power plant may not be scrapped.

"We have never said that we give up Belene project," Minister Traicho Traikov told reporters on Friday.

In his words the new government is making an analysis of the agreements made and the future opportunities for the project.

Bulgaria's previous Socialist-led government chose last year German power utility RWE to become a strategic partner in the Belene project with a stake of 49%. State power utility NEK, which has a majority stake in the plant, contracted Russia's Atomstroyexport to build the two 1,000 megawatt reactors.

The coalition did not leave a stone unturned in its attempts to secure Russian funding for the construction of Belene nuclear power plant shortly before its term expired in the summer.

It started talks with the Russian government on a EUR 3.8 B state loan for the project and offered guarantees for it.

The new government of the center-right GERB party says it is not willing to provide any state guarantees for loans and will make a thorough analysis and research before deciding on the future of Belene.

Bulgarian energy experts and some rightist parties have called for a halt, saying the loan will translate into a BGN 1300 tax burden for each Bulgarian taxpayer, electricity hikes for decades on end, outdated and dubious Russian nuke units.

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