Tue, 30 Nov 2010
Sofia - Bulgaria and Russia on Tuesday singed a memorandum of understanding to finalize the troubled Belene nuclear plant project.
The Bulgarian National Eclectric Company (NEK) and the Russian Rosatom will form a joint venture for Belene within four months, with Sofia holding 51 per cent of its capital.
The complex deal also involves Finland's fortum and the French Fortatom, which are looking at acquiring small stakes in Bulgaria's second power plant on Danube.
Rosatom chief executive Sregey Kiriyenko said that work on the power plant, interrupted a year ago amid funding problems, should be renewed within 10 months and the first of the two planned 1,000-megawatt reactors completed in 2016.
The final price of the project and the investors however remain unknown, but Kiriyenko estimated it at between 6.3 and 6.4 billion euros (8.3-8.4 billion dollars).
The original cost projection had been 4 billion euros.
Tuesday's deal enables cash-strapped Bulgaria to go ahead with the power plant without additional spending from the budget.
Source: Earth Times.
Link: http://www.earthtimes.org/articles/news/355965,deal-belene-nuclear-plant.html.
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