The financial crisis will not affect the Russian financing of the Belene nuclear power as the sum allocated for the construction is secured and the project is proceeding according to plan, says Economy and Energy Minister Petar Dimitrov, as quoted by Stroitelstvo.bg. By the end of the year, Russia will pay the first instalments for manufacturing the equipment required inside the plant.

At the end of the Bulgarian Russian Economic Commission, Russia said that the investment for the period 2008 – 2010 for the construction of Belene will be to 3.8 billion euro.

The Russian economics commission has assured Petar Dimitrov, Energy and Economics Minister, there will be no delay in constructing the plan, according to Stroitelstvo. By the end of October, the cooperative agreement between Gazprom and the Bulgarian government will be signed. Bulgargaz and Gazprom will hold talks to increase the supply of “blue” fuel for Bulgaria, as the country needs 500 million more cubic metres of gas annually, according to rough calculations.

A decision for the preparation of a new agreement for the disposal of expended nuclear fuel was been made earlier this year, in June in St. Petersburg. The most important change concerns transporting the fuel from Belene. As a consequence to the agreement, the Russian side had agreed to accept the used fuel.

It is expected that excavations for the Belene foundations will start by the end of this year, with the construction starting in 2009, according to the Energy Minister.