CABINET TO APPROVE FORTY PRIVATIZATION DEALS

Business | November 22, 2001, Thursday // 00:00

The 2002 Cabinet privatization program envisages the sale of forty state-owned companies to be approved by the Cabinet. The program was moved to the Parliament on November 20. Under the program the sale of the Bulgarian Telecommunication Company is to be approved first by the Parliament and then by the Cabinet. The revenues from the privatization deals in sector “Communications” for the third quarter of 2001 are expected to total BGN 200 M. Among the companies on the list are Bulgartabac Holding, Boyana Film, Sopot-based military plant, hydro power plant Maritsa Iztok 3, twenty heating companies, seven divisions of the electric transmission network. A total of 349 privatization deals are expected to be concluded in 2002. The majority package of 238 of them will be sold, while for 21 companies - minority packages will be sold. The privatization procedures expenses are expected to amount to BGN 25,3 M. The list of companies to be privatized in 2002 does not include the Nuclear Power Plant “Kozloduy”, natural gas transportation, national transport infrastructure, specialized hospitals of national importance, territorial cadastre, duty-free zones, water supply, sewerage, education, geodesy.
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