Bulgaria, Westinghouse Sign Shareholders' Agreement on Unit 7

Business » ENERGY | July 31, 2014, Thursday // 17:04| Views: | Comments: 3
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Bulgaria: Bulgaria, Westinghouse Sign Shareholders' Agreement on Unit 7 Unit 7 of the Kozloduy Nuclear Power Plant is expected to be operational by 2022-2024. Photo by BGNES

Bulgaria's government announced Thursday a shareholders' agreement was signed with US-based company Westinghouse on the construction of Kozloduy NPP's Unit 7.

The document, which is due to be officially paraphed on Friday, will be pending approval from the next elected government after the early general vote on October 5, according to the Council of Ministers' press office, the Bulgarian National Radio reports.

Kozloduy NPP CEO Ivan Genov explained the step to follow Friday's sealing and the confirmation expected from the next government was a final decision of the cabinet that Unit 7 should be built.

Ministers gave the green light to the agreement on Wednesday, when they held their last cabinet meeting before a caretaker government assumes office on August 6.

The preparation and approval of a Financial model agreement and an Engineering, Procurement and Construction (EPC) contract will also be required for the Shareholders' agreement to enter into force.

Earlier this week, Westinghouse CEO Danny Roderick visited Bulgaria to meet key government representatives.

Roderick revealed a final deal on the construction of Unit 7 is expected next year, during the tenure of the next elected government.

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Tags: EPC, shareholders' agreement, Bulgaria, Westinghouse, Kozloduy NPP, Unit 7
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» To the forumComments (3)
George Zheliazkov - 2 Aug 2014 // 03:51:03

More links on Hamilton


George Zheliazkov - 2 Aug 2014 // 03:43:46

Ha Ha, Fake oxymoron, what a pitiful smearing campaign you are running that is not what the real ZhelIazkov said!
There is no such a thing like a bad publicity!
I don't care who builds things in Bulgaria, all I care is that stuff is being done!

Oxymoron, Hamilton is the Canadian emerging market! That's where the investment future of Ontario is!
Hamilton is the best place to invest in!
Check the links below and watch ALL the videos!

George Zhelyazkov - 1 Aug 2014 // 03:52:46

Listen Bulgaria, keep doing business deals with the decadent West and you'll see what happens to you. I've been saying here for many years - and I get a lot of heat for it - that Bulgaria needs to diversify away from the capitalist, decadent West and unite with brother Russia and prosperous emerging markets like Eritrea and Cambodia.

You have to understand Bulgarians, letting Westinghouse run our nuclear plants is like letting the neighbourhood thief to screw your sister. Even if Westinghouse invented nuclear reactors I don't care. I don't trust Westerners, starting with Americans.

Our Russian brothers have always demonstrated they have our interests before theirs. That's why when they imposed the pure and just ideology of communism in Bulgaria they always made sure we were a little bit richer than them. Ask yourselves Bulgarians, would you prefer a world renown company with the best technology in the world like Rusatom to manage Belene and build our reactors or let some unknown American company with dubious reputation imperil the safety of our citizens.

Who cares if Rusatom is on the EU and US blacklist. Blacklists are made to be broken and we have plenty of reserves in our currency board mechanism to pay any fines the EU imposes on us. If not we can always get another 2 billion leva loan to pay our Russian brethren who deserve nothing but obedience and subordination from us little people.

One day Bulgarians you will have the privilege and honour of visiting Hamilton and you will see where I get my inspiration from for my bright ideas and maybe you'll be able to invent a few good things yourselves too.

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