GERMAN investment in Bulgaria could soar in the near future thanks to an energy project at Maritsa Iztok 3 worth 300 million euro, the modernisation of coal-mining by Germany's RWE Rheinbraun, and the rehabilitation of pre-fab buildings in Bulgaria, said Dr Axel Gerlach, State Secretary at Germany's Federal Ministry of Economics and Labour.
The drop in German investment in Bulgaria from $101 million in 1999 to $65 million in 2001 was not an indication of the state of bilateral economic co-operation because the Maritsa Iztok 3 project is about to be implemented. RWE Rheinbraun's coal-mining project is at an advanced stage. The sides have agreed the details of Bulgarian-German forums on small and medium-sized business promotion in Bulgaria, on the use of renewable energy resources, and on environmental protection.
The German delegation led by Gerlach participated in the fifth regular session of the Bulgarian-German co-operation Council in Rousse on Tuesday.
The German side wants to participate in the privatisation of the Bulgarian energy sector, invest in telecommunications and infrastructure projects, and provide assistance in the course of Bulgaria's accession to the EU, Bulgarian Deputy Economy Minister Nikola Yankov said.
On Monday, Gerlach had talks in Sofia with Energy and Energy Resources Minister Milko Kovachev.
They focussed on the development of the Maritsa Iztok 3 complex and co-operation in energy efficiency and renewable energy sources, Kovachev's ministry said.
Germany had allocated substantial amounts in its 2003 budget for international co-operation in renewable energy sources, Gerlach told Kovachev.
For his part, Kovachev said that the new Energy Efficiency Act would establish an accurate mechanism for preferential pricing of electricity generated from such sources.
Kovachev gave a briefing on the overall state of Maritsa Iztok complex and the progress on the Maritsa Iztok 3 project, on which the principal implementing contractors are German companies DSD and RWE.
The drop in German investment in Bulgaria from $101 million in 1999 to $65 million in 2001 was not an indication of the state of bilateral economic co-operation because the Maritsa Iztok 3 project is about to be implemented. RWE Rheinbraun's coal-mining project is at an advanced stage. The sides have agreed the details of Bulgarian-German forums on small and medium-sized business promotion in Bulgaria, on the use of renewable energy resources, and on environmental protection.
The German delegation led by Gerlach participated in the fifth regular session of the Bulgarian-German co-operation Council in Rousse on Tuesday.
The German side wants to participate in the privatisation of the Bulgarian energy sector, invest in telecommunications and infrastructure projects, and provide assistance in the course of Bulgaria's accession to the EU, Bulgarian Deputy Economy Minister Nikola Yankov said.
On Monday, Gerlach had talks in Sofia with Energy and Energy Resources Minister Milko Kovachev.
They focussed on the development of the Maritsa Iztok 3 complex and co-operation in energy efficiency and renewable energy sources, Kovachev's ministry said.
Germany had allocated substantial amounts in its 2003 budget for international co-operation in renewable energy sources, Gerlach told Kovachev.
For his part, Kovachev said that the new Energy Efficiency Act would establish an accurate mechanism for preferential pricing of electricity generated from such sources.
Kovachev gave a briefing on the overall state of Maritsa Iztok complex and the progress on the Maritsa Iztok 3 project, on which the principal implementing contractors are German companies DSD and RWE.
