Bulgaria Contracts HSBC on Belene Nuclear Project Monday
- Tweet
Send to Kindle
Borisov's U-turn in favor of the controversial nuclear plant Belene, whose site currently just looks like a plot of barren land, has fuelled suspicions that links between the mafia and the political system run deep in the energy sector. File photo
The Bulgarian Energy Holding will sign on Monday a contract with HSBC, one of UK's biggest banks, for consultancy services, to help it decide how to proceed and attract new investors for the planned Belene nuclear power plant.
"With this step the project enters a crucial stage. The conclusions of the consultant will be the answer to the question whether or not Belene nuclear power plant will be built," Economy and Energy Minister Traicho Traikov said on Sunday.
The statement comes just days after Traikov drew the ire of Prime Minister Boyko Borisov after he slammed and dismissed the National Electric Company head Krasimir Parvanov for signing an agreement with Rosatom's subsidiary Atomstroyexport that potentially threatens Bulgaria's national interests by obliging the Bulgarian government to reach a final agreement with the Russians on Belene by June 1, 2001.
The plant was originally to be built by Russian company Atomstroyexport for EUR 4 B. The firm had signed a contract with the previous, Socialist-led government, swept from power by Borisov's conservative GERB party swept in last year's July elections.
Due to the delays in the launch of the construction works, stalled over price disputes and funding problems, Russia now says the project construction price should be increased to EUR 6.3 B.
Bulgaria's new center-right government suspended the construction of the nuclear power plant last year until it finds a new investor and funds to complete the project at Belene, on the Danube, 180 kilometres northeast of the capital Sofia.
The Bulgarian Energy Holding picked in November 2010 HSBC, one of UK's biggest banks, for a consultant to help it decide whether the project is economically feasible.
Six candidates submitted at the end of March documents to bid in the tender opened by the Bulgarian Energy Holding for Belene consultant - HSBC, Societe Generale, KPMG in a consortium with McGuire, Rothschild, Argil, and Ernst & Young.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
- » February Brings a Drop in Bulgarian Natural Gas Prices
- » Sad: Bulgaria and EU Witness Rise in Fossil Fuel Dependency
- » Concerns Rise Over Wind Turbines' Potential Impact on Black Sea Tourism and Fishing
- » Bulgaria-Turkey Gas Network Deal: Bulgartransgaz and Botas Unite
- » Kozloduy Nuclear Power Plant Granted Permit for Storage of Westinghouse Nuclear Fuel
- » Greece and Bulgaria Celebrate New Energy Link for Green Future
