EBRD Doubles Investments in Bulgaria, Boosting Key Sectors in 2024
The European Bank for Reconstruction and Development (EBRD) has significantly increased its investments in Bulgaria for 2024
Bulgaria's Commission on Protection of Competition (CPC) has fined three companies which participated in the construction of desulphurization installations at the state-owned thermal power plant Maritsa East 2.
Consortium Idreco-Insigma, Zhejiang Zheda Insigma Group Co., Ltd, and Idreco Invest have been fined with BGN 50 000 each, according to CPC's announcement.
Consortium Idreco-Insigma won the public procuirement contract for building the desulphurisation equipment with financing from EU funds and the European Bank for Development and Reconstruction (EBRD).
French Alstom, however, complained to EU's anti-fraud office Olaf that the consortium had stolen its technology to win the tender
Alstom sued Chinese Insigma in Singapore to pay close to USD 30 M for unauthorized use of the technology.
Bulgaria's CPC has found that Consortium Idreco-Insigma, Zhejiang Zheda Insigma Group Co., Ltd and Idreco Invest have presented false data in their bids for the above mentioned tender.
According to CPC, the skewed information has allowed the opposing parties to gain an unfair advantage which affected the decision of the assignor, at the same time damaging the interests of their competitor.
If the bidders had submitted truthful documents, they would have been removed from the tender process and would not have won the contract, CPC has said.
Ukraine's parliament, the Verkhovna Rada, has passed a law allowing the purchase of two Russian-made nuclear reactors originally intended for Bulgaria's Belene Nuclear Power Plant
Ukraine's parliament has given the green light for the acquisition of two nuclear reactors initially intended for Bulgaria's Belene Nuclear Power Plant (NPP)
For the ninth consecutive year (excluding 2022), the electrical industry remains the largest contributor to Bulgaria's exports, as reported by the Bulgarian Association of Electrical Engineering and Electronics (BASEL)
European natural gas prices have climbed above €55 per megawatt-hour for the first time in 16 months, driven by colder temperatures across the continent that are increasing demand for heating fuel
Serbian oil and gas company NIS, controlled by Russia’s Gazprom, is considering exiting its operations in Bulgaria and Romania due to ongoing difficulties in both markets
The Russian company Lukoil initiated the process of selling its Bulgarian assets in June last year, Prime Minister Rosen Zhelyazkov announced during a parliamentary hearing
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