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Sat, May 26 2012
Russia ready to finance two years of Belene NPP construction
Belene NPP construction site
Photo: Georgi Kozhouharov
Russia was ready to finance the next two years of construction on Bulgaria’s second nuclear power plant in Belene on the Danube, Economy and Energy Minister Traicho Traikov was quoted as saying by Bulgarian-language Dnevnik daily on December 30 2009.
That way the plant's construction will not be put on hold, he said, noting that money needed for construction of Belene in the next two years totalled about two billion euro.
Allocating the two billion euro was one of the last offers made by the Russian side, Traikov said following his December 24 2009 visit with his Russian counterpart Sergei Shmatko.
In return, Russia expected to secure guarantees that it will get shares in the new company developing the project together with the state Bulgarian Energy Holding and the Bulgarian state national grid operator National Electric Company (NEK).
According to Traikov, if Moscow financed and acquired a larger stake, Russian participation in the project will be trimmed at a later stage. Moscow has already expressed interest in bankrolling the construction in exchange for 100 per cent ownership of the 2000 MW Belene project.
In mid-December, the Russian side said in Sofia it could finance the project without state guarantees but insisted on guarantees from NEK.
Negotiations on Russians’ offers should start at the end of February 2010.
That way the plant's construction will not be put on hold, he said, noting that money needed for construction of Belene in the next two years totalled about two billion euro.
Allocating the two billion euro was one of the last offers made by the Russian side, Traikov said following his December 24 2009 visit with his Russian counterpart Sergei Shmatko.
In return, Russia expected to secure guarantees that it will get shares in the new company developing the project together with the state Bulgarian Energy Holding and the Bulgarian state national grid operator National Electric Company (NEK).
According to Traikov, if Moscow financed and acquired a larger stake, Russian participation in the project will be trimmed at a later stage. Moscow has already expressed interest in bankrolling the construction in exchange for 100 per cent ownership of the 2000 MW Belene project.
In mid-December, the Russian side said in Sofia it could finance the project without state guarantees but insisted on guarantees from NEK.
Negotiations on Russians’ offers should start at the end of February 2010.
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Kamelia Lozanova has been appointed the executive director of the Employment Agency, a position she has held ad interim since September 2011, following the resignation of her predecessor Rossitsa Stelianova. Prior to that, Lozanova was the agency's deputy executive director in charge of international projects and European programmes. She has been with the agency for more than 20 years. Lozanova has a degree in Slavonic philology from the St Kliment Ohridski University of Sofia.
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Beiersdorf
Bedros Kalfayan, general manager of skin care and cosmetics company Beiersdorf Bulgaria, will oversee the parent's company units in Romania and Moldova starting April 1. Following company restructuring, Beiersdorf's subsidiaries in the three countries were merged and are now one unit, part of Beiersdorf Central and Eastern Europe. Kalfayan joined Beiersdorf in 2007 as sales manager and was promoted to general manager in 2008. Prior to that, he worked for Axxon Bulgaria, Ferrero and Rubella. Kalfayan has a master's degree in industrial management from the Technical University in Sofia.
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Sasha Bezuhanova has been appointed Hewlett-Packard public sector director for emerging markets, where she will oversee HP public sector activities in 63 countries, including Bulgaria. Bezuhanova will also be in charge of HP's relations with the European Union. Bezuhanova has been HP's public sector director for Central and Eastern Europe since 2008; before that she was general manager of HP Bulgaria since 1998. Bezuhanova has a master's degree in electronics from the Technical University in Sofia and has completed a managment programme at INSEAD.
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ultimatly if they play there cards right russia will have to biuld it to completion. or maybe it not about the construction its about holding the right to do so, and with a reactor not biult the pressure will rise to realise this contract.
Sounds a good deal Bulgaria could do with this money. It would be nice if this money stayed in Bulgaria, also the worry could be a monopaly on electricy prices, but then again all that can be sorted from the onset.
Russian bluff-poker continuing... If Russia finances the next two years - and if that is (in the most optimistic scenario) done with a Russian export credit guarantee... who is going to finance the other 7 to 8 Billion Euro? And if no-body... will the Russian state then just pay Atomstroyexport for the lost 2 Billion? The small lettering in the contract will be important reading for the Bulgarian tax-payer...