BULGARIA WITH 20% IN OIL-PIPELINE BURGAS- ALEXANDROUPOLIS

Politics | January 31, 2002, Thursday // 00:00

A memorandum for political agreement on the construction of oil pipeline Burgas- Alexandroupolis was signed by Greek, Bulgarian and Russian representatives in Moscow. According to Greek news agency MPA the Greek side stood its ground and managed to achieve its goals – signing the memorandum, approving a technical-economic expertise and the setting up of a joint company, which will be in charge of the oil-pipeline construction. Greek companies will reportedly hold with 39% in the jointventure, Russia – 41%, and Bulgaria with 20%. The expertise has been prepared by the ELF Company, which assesses the oil pipeline construction as “profitable investment.” Representatives of the Bulgarian Ministry of Regional Development and Public Works announced that more negotiations on the Burgas-Alexandroupolis oil pipeline are to be held.

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