RUSSIAN COMPANY TO SELL SHARES IN BULGARIA'S NUKE CONSTRUCTION PROJECT

11:43 Tue 08 May 2007

Russian company Atomstroyexport is to offer stock exchange shares for the construction of two units of Belene nuclear power plant (NPP) in Bulgaria.

The shares offered for sale will be worth nearly $500 million, Russian website polit.ru reported.

The company will offer a total of 1.5 million shares, worth nearly $39 each. They will be available for unrestricted sale for a period of four years.

Atomstroyexport will use proceeds from the shares to buy equipment for the two units.

Belene NPP construction begins in September 2007, polit.ru said. The NPP is to be ready by 2013.

Comments

Comments by Jan Haverkamp - Greenpeace - 10:33 08 May 2007
	Sofia Echo may have missed some news, but the signing of the contract with Atomstroyexport is delayed for over half a year to the end of the year. Construction of Belene will therefore not start before the early next year. The finishing date of the reactor with that also has been shifted to 2014. Reason for the delay is that the Bulgarian side has problems finding finance for the project. It is interesting to see that there is now a lot of publicity about an attempt to get 43 Million USD for a project that is to cost well over 6 Billion USD... Is this serious? The earlier Bulgaria stops this projects, the less losses it will make on it!