US company AES, which will work on rehabilitation of Thermal Power Station Maritza Iztok 1, will offer 3000 jobs and will also make investments of USD 5 million in schools and hospitals in Gulabovo Municipality, stated Mayor Mr. Vasko Stoyanov.
Source: Pari (11.01.2000)

An independent joint-stock company will start operating in Varna at the beginning of February, stated Mr. Ivan Shilyashki, Chairman of the State Agency for Energy and Energy Resources. This will be one of the 7 companies to be established in order to be terminated the monopoly state of NEC.
Source: BTA (14.01.2000)

The debts of Chimco JSC - Vratza to Elektrosnabdyavane - Vratza amount to BGN 2 million. We are going to pay all our debts, stated the Deputy Chairman of the company's Board of Directors Mr. Martin Makariev.
Source: Standart (18.01.2000)

Briquette factory will stop its work when in 2002-2003 it will unite with Maritza-east 1. When this becomes, there will be briquettes if a private importer or producer appears. However their price will increase because the fuel will not be subsidied by the State.
Source: Monitor (21.01.2000)

This summer will start liquidation of all coal mines that are working at a loss, according to a programnme of Agency for Energetics. By the end of February all companies from this branch have to present their financial plans to the government.
Source: Standart (16.02.2000)

Chimco JSC stopped the production of carbide because of unpaid bills to Bulgargas JSC and NEC SPJSC. The company owes NEC SPJSC BGN 10.000.
Source: Sega (17.02.2000)

European Bank for Rehabilitation and Development (EBRD) is ready to grant USD 100 million for reconstruction and modernization of NEC SPJSC, stated Mr. Kiril Ermenkov, Chairman of the parliamentary energy commission.
Source: Standart (17.02.2000)

The Ministry of Environment is going to impose sanctions on Chimco JSC and its executive Director Mr. Valentin Dimitrov because of pollution of the air in Vratza. This was reported after a meeting of Mr. Ivan Shilyashki - Chairman of the Agency for Energetics, with Mr. Kiril Gegov - Director of Bulgargas JSC, Mr. Danail Tafrov - Executive Director of NEC, and Directors of Chimco JSC.
Source: Sega (18.02.2000)

At the end of 1999 Jeylan Holding - Turkey wanted to take a loan from Eximbank - Turkey, secured with Bulgarian state guarantees, for the construction of Gorna Arda water cascade. Bulgaria refused to secure this loan, announced Mr. Evgeni Chachev, Minister of Regional Development.
Source: Pari (15.03.2000)

Up to the present moment Daru Metals JSC has paid debts of Kremikovtzi JSC of BGN 80 million and has also made some investments, announced Mr. Valentin Zahariev, Director of Daru Metals JSC. 60 per cent of the plant's output is exported in EU countries.
Source: Standart (23.03.2000)

Another 4 water power stations will be offered for sale by PA. Offers can be submitted up to April 28th, 2000 and the deposits for participation are between USD 3.000 and USD 25.000.
Source: Standart (27.03.2000)

NEC SPJSC fixed a date in July, 2000 for the payment of debts of BGL 2.480.000 of Rodopa Investment JSC, announced the company's Director Mr. Nikola Kolibov.
Source: Otzvuk-Smolian (29.03.2000)

The money for the construction of Upper Arda water cascade will only come after consultant Arthur Andersen approves the study of the project, learned Ceilan Holding’s President Mahmud Ceilan and National Electric Company CEO Danail Tafrov at a special meeting a week ago. The scheduled for the course of the procedures has been already agreed. Each of the two companies will provide half of the money; construction works are expected to begin at the end of the summer.
Source: Pari (03.04.2000)

Over 200 workers of the textile company Fintex JSC in Gabrovo that is finance collapse protested in front of the municipality. They want their salaries from 6 months ago and orders for production. The company has debts of over BGN 20 million to the main creditor Bulgarleasing JSC - Sofia, to suppliers, banks and to the local Electrosnabdiavane in the town. The country has 92 per cent of the shares and workers want an immediate interference in the company affairs.
Source: BTA (19.04.2000)

The European Commission approved on 18.04.2000 the loan of EURO 212,5 million for development and renew the security of 5 and 6 block of the NPS Kozlodui. The money are granted to the National Electric Company. The total price of the project according to NEC is EURO 490 million. Except this loan, it is expected other ones from American and Russian agencies. The project has to be completed within 4 years.
Source: BTA (19.04.2000)

The French electric company ÅDF will help NPS Kozlodui at the actualization of the programme for modernization of 1-4 block and will become a guarantee for their quality before the international nuclear community.
Source: BTA (19.04.2000)

The Managements of the 7 electric allocating companies that are seperating from NEC are already appointed, reported from the Energetic Agency. Mr. Ivan Shiliashki officially handed the orders officially to the new managers of the companies in Sofia, Plovdiv, Pleven, Varna, Gorna Oriahovitza and Stara Zagora. The new companies with 100 per cent will be registered in the court to April 28.
Source: Standart (26.04.2000)

With an order of the chairman of the State Agency of Energetics and Power Resources, Ivan Shiliashki are dismissed as members of the Board of Directors of the National Electric Company(NEC) Mr. Konstantin Shushulov, Mr.Valetin Ivanov, Mr. Bozhidar Badzhov, Mr.Dimcho Ivanov, Mr.Sasho Chobanov, Mr.Danail Tafrov and Mr.Stancho Andreev. A new Board of Directors is selected. As a result of the transform the capital of NEC reduced from BGN 123 087 to BGN 72 951 408.
Source: BTA (27.04.2000)

The National Electric Company has a new Board of Directors. NPS Kozlodui also has new Directors. With an order of Mr. Ivan Shiliashki was appointed a Board of Directors of NPS Kozlodui that will be separated from NEC and will become an independent company with a capital of BGN 36.02 million.
Source: Democracy (27.04.2000)

46 offers are attended for 11 hydroelectric power stations that sells PA. Among the names of the candidates is Hydro Power Bulgaria that probably presents the Canadian Hydro Qvebec. For each Hydro Power there are at least 3 candidates. At least 5 are the foreign candidate-buyers but most of them offer by registered companies in Bulgaria The greatest is the interest in the cascades Pirinska and Sandanska Bistritza.
Source: Sega (02.05.2000)

The Deputy Chairman of the Energetic Agency Mr. Stancho Andreev became a Director of the biggest coal extracting company Mini Maritza Iztok, Radnevo. More than a month it was without legal Management. In the beginning of this year the mines recorded BGN 16.9 million profit at extraction of 20.7 million t coals and two months outage. Over 2000 people were laid off.
Source: Sega (02.05.2000)

Electricity Due France has shown interest in the power supply company Energosnabdyavane - Plovdiv. French group is ready to make investments in the company's management and equipment. A representative of the French group has already met with the management of National Electric Company JSC - Sofia.
Source: Democracy (02.05.2000)

The Chairman of the State Energetic Agency, Mr. Ivan Shiliashki negotiated a drop of the transit fee for Russian natural oil for Bulgaria with 28.6 per cent during the visit in Romania. The agreement is to 2003 and in this period Bulgaria has to pay for the delivery through Russia USD 16 million.
Source: Pari (03.05.2000)

46 offers submitted within Fridayin PA for privatization for the sale of 11 HPS that are self-contained parts from NEC SP JSC. There are at least 3 candidates for each HPS. The biggest interest is for the cascades Pirinska and Sandanska Bistritza.
Source: BTA (03.05.2000)

During the last ten years in Bulgaria were constructed ten small HPS. Eight were restituted. The owners of small stations earn well. Most of them are in preparation for new small HPS. This kind of business is convenient because of the guarantees given by the Energy Law. NEC purchases most of the produced electricity on preferential prices - between BGN 0.05 and BGN 0.063 per kilowatt hour because it is obliged by the Law. The purpose is to be developed small energetic sources which do not pollute the environment. It is expect that this year the contracts of NEC with the small stations will become long-term. In accordance with the Energy Law the producers of electricity from restorable sources have a guaranteed market for years ahead. These requirements enable the credits for the construction of a small HPS. The investment for a station of less than 10 kilowatt hours is considered for an expenditure and a profit tax is not paid for it. The investment is between USD 10 -15 000 in accordance with the opportunities offered by the source (in most cases - the river). The term of efficiency of the equipment is not very long. The installed power of 1 kilowatt hour per year produces between 4 and 8 kilowatt hours. The construction of this power costs about USD 1100. The annual income from a 1 kilowatt hour is BGN 240-480. The production of electricity from water resources is a prfitable business. Thus with participation of Energoremont JSC - Plovdiv was established a consortium of 6 Bulgarian companies - Hidro-Bulgaria which will participate in the auction for equipment of Madan dam - the first step of cascade Gorna Arda.
Source: Maritza dnes (05.05.2000)

Two companies from Lovetch region submitted bettered offers for the privatization of detached parts of NEC SP JSC. These are HPS-Energy SP Ltd-Lovetch and Medicom-electric Ltd - Troian. According to their registration in the Lovetch District Court, the first one is created with a capital of Litex JSC and its activity is production, delivery and sale of electric energy.
Source: BTA (22.05.2000)

LUKoil - Neftochim Bourgas JSC starts to work wit own electricity. The refinery produce except electricity for its own needs and additional one which sell to the National Electric Company JSC. The introduction of the new power capacity is a part of the major refinery investment programme.
Source: Pari (25.05.2000)

PA gave a deadline of 30 days to the MEBO Pirin - 2002 JSC for negotiations and sign of a privatization contract for the sale of HPS Pirin and HPS Spanchevo - united in the cascade Pirinska Bistritza. It is a detached part of the structure of NEC SP JSC - Sofia. MEBO Sandanska Bistritza JSC, Sofia also received a deadline of 30 days from PA for the negotiations and sign of the privatization contract for the sale HPS Popina luka, HPS Lilianovo and HPS Sandanski, united in the cascade Sandanska Bistritza, was reported from the PA.
Source: BTA (01.06.2000)

PA defined for an exclusive buyer of HPS Passarel and HPS Kokaliane the company LM Impex Ltd, was reported from the press center of the Agency. There will be negotiations with the company for the sale of the two Hydro Power Stations, united in Iskar cascade that is a detached part of NEC SP JSC - Sofia. The deadline for the sign of the privatization contract is 30 days from the date of the written notification of the candidate - buyer, was specified from the press centre.
Source: BTA (06.06.2000)

The Deputy Prime Minister Mr. Peter Zhotev demanded in a report to the Prime Minister to be stopped the sale of the Hydro Power Stations(HPS). Zhotev stated that can not be identified a strategic investor among the candidates and it would not be good the privatization to start with sales of MEBOs. BRIBank is the agent at the sale and there are serious suspicions that behind the MEBOs stand the firms related to Olimp. Mr. Zhotev required a new privatization procedure of the HPSs after active marketing of the PA. PA had to sell 22 small HPSs as detached parts of NEC. 11 has been launched so far and there were submitted 25 offers. 7 buyers are selected and among them are 2 MEBOs, defined for buyers of 5 stations.
Source: Sega (06.06.2000)

Pleven District Court registered Elektrorazpredelenie Pleven JSC. The head-office and the address of the company is Pleven, Doiran 73 Str. The activity of the company is exploitation of the electricity distribution network. The capital of the company is BGN 1 206 000, distributed in 120 600 personal shares with face value of BGN 10. The Board of Directors which consists of Mrs. Silvia Batcheva - Chairman, Mr. Todor Matev - Executive Director, Mrs. Maria Andreeva - Deputy Executive Director, Mr. Ivan Prodanov and Mrs. Emilia Konova. The company is managed and represented by Mr. Todor Matev.
Source: State Gazette (06.06.2000)

The Prime Minister Mr. Ivan Kostov sent a letter to the Supervisory Board in which he express his bother for the quality of the privatization procedure for the first small Hydro Power Stations(HPS). According to him all the doubts connected with the deal have to be checked and if they are confirmed there will be offered a new procedure. He also expressed the consern of the Government for the quality of the work of PA, dictated by the interests of the State and these interests require strategic investors and security for the Bulgarian energetics.
Source: Democracy (07.06.2000)

The German company Rheinbraun will have 60 per cent of the capital of the new joint-venture company, that is created with Mini Maritza - iztok SP JSC. The order for the permission for creation of the joint-venture company is signed by the Chairman of the State Energy Agency Mr. Ivan Shiliashki. The company is registered with a capital of BGN 50 100. According to the contract during the next year will be made researches for the perspectives for the development of the coal extraction at the market of electric energy. The point is to be revealed how profitable are the long-term contracts for delivery of coals for the three terminal stations of the complex.
Source: Sega (09.06.2000)

PA sold 51 per cent of the capital of Neochim JSC - Dimitrovgrad for USD 100 000 to Euro Fert JSC - Dimitrovgrad and the Lebanese company Karimex Chemical International, was pointed in a statement of the Agency. Only 30 per cent of the price will be paid in cash and the rest - in long-term bonds on the State debt. The new owners are obliged to invest in it USD 5 555 555 for 5 years. 25 per cent of the capital of the company was sold in 1996 - 1997 in the first wave of the mass privatization. The main problem of Neochim is the debt of BGN 29 803 000 to Bulgargas, was reported from PA. The buyers are obliged to pay the debts of the company to the Ministry of Finance, Trade banks and suppliers.
Source: 24 chasa (13.06.2000)

Bureaucratic preventions slow down the privatization of the company Tezhko mashinostroene, Rousse and reduce the chances for keeping the productions and for new work-places, warned the MP from UDF Mr. Petar Nenov. He insists on evaluation of the long-distance pipe of the former high machinery combine. This pipe is long 22km and has capacity of 110kw. The long-distance pipe is evaluated for BGN 980 000.
Source: BTA (14.06.2000)

Sofia City Court registered changes for National Electric Company - SP JSC: NEC was separated into the following companies - Elektrorazpredelenie - Stolichno - SP JSC, Elektrorazpredelenie - Sofia-region - SP JSC, NPS - Kozlodui JSC, Elektrorazpredelenie - Plovdiv - SP JSC, Elektrorazpredelenie - Varna - SP JSC, Elektrorazpredelenie - Pleven - SP JSC, Elektrorazpredelenie - Stara Zagora - SP JSC, Elektrorazpredelenie - Gorna Oriahovitza - SP JSC, TPS Rousse Iztok - SP JSC. There was registered a drop of the capital from BGN 123 087 408 ëâ. to 72 951 408 allocated in 72 951 408 personal shareswith face value BGN 1; there was registered a change in the activity of the company - production and transfer of electricity, centralized purchases and sales of electricity, supply of electricity, import and export of electricity and energy resources, investment activity, transfer of energy. The former members of Board of Directors were erased. There was registered a new Board of Directors that includes Mr. Danail Tafrov, Mr. Milcho Golemehov, Ms. Lilia Ivanova, Ms. Paraskeva Kiseva and Mr. Mitjo Hristozov; the company is represented by Mr. Danail Tafrov who is Executive Dirtector of the company.
Source: State Gazette (16.06.2000)

100 000 individual regulators for hot water will produce the state-owned company ZITA SP Ltd. The sign of a contract with NEC is expected. At the moment the company works at a similar order for heat power plant.
Source: Democracy (19.06.2000)

The briquette factory in Gulabovo united with TPS Maritza-iztok 1, was reported from the Energetics Agency. The name of the new company is Brikel and the fixed capital is BGN 1.66 million. Toplofikatzia - Pernik and the open ore mines of Pernik mines merged in a joint venture company. In spite of the protests of the energetics, an order from Mr. Ivan Shiliashki came for the merger of fitting of heating installations in Rousse with the local TPS Iztok.
Source: Standart (28.06.2000)

We agreed with the Turkish Minster of Energy to increase drastically the Bulgarian export to Turkey by 2008, said Mr. Ivan Shilyaski upon arrival from Istanbul yesterday. The Chairman of the State Energy Agency said that a second power-line to Turkey will be necessary, when exports rise to 4 billion kW/h after 2002 under an agreement already signed. Export will possibly rise by another one billion kW/h. Experts on both sides will outline the terms of reference regarding the increase of electricity exports. Representatives of Bulgargas JSC and Botas will draft a programme for the Russian gas transit to Turkey. The gas deliveries will be increased as soon as this winter.
Source: Pari (29.06.2000)

Two Bulgarian-German companies will take part in a competition for a right of construction nearby Bulgarevo for erecting of pilot projects of wind energy stations. For the grounds will bid Balkan star energy Ltd and Balkan wind star JSC that presented their offers before the Municipal Board in Kavarna.
Source: Black sea (30.06.2000)

The iron and steel works of Kremikovtzi JSC - Sofia are in talks with the Austrian steel group Voest Alpine to set up a joint venture to upgrade and manage Kremikovtzi’s continuos steel casting. Through this arrangement the company hopes to repay its USD 70 million debt to Austrian’s Kontrol Bank. Kremikovtzi JSC posted a loss of BGN 179.906 million in 1998. After the company was privatized the loss-making facilities were separated from the core operation. Sofia-based Daru Metals JSC bought 71 per cent in Kremikovtzi JSC capital in June 1999 for a token price of 1 US dollar. The plant which accounts for 80 per cent of Bulgaria’s ferrous metal output, had a BGN 13.005 million profit for January-May this year.
Source: Standart (03.07.2000)

PA received 7 offers at the second procedure for privatization of the cascades Sandanska Bistritza and pirinska Bistritza. All participants except Daru metals agreed the parametres of their offers to declared publically, was specified from PA. For the cascade Sandanska Bistritza are bidding 4 candidates. Energo-pro JSC-Czech Republic offers the highest investment and the highest price - USD 33.057 million. MEBO Pirin-2001 offers for Pirinska Bistritza USD 32 million.
Source: Sega (06.07.2000)

The German company Reignbraun will take on concession the extraction of coals from mine Maritza-iztok in the beginning of 2001. This was stated by the Director of the Energetics Agency Mr. Ivan Shiliashki after the meeting of the Supervisory Board of the joint ventured company between mines Maritza-iztok and the German cocern Reignbraun in Koeln. Within November 30 the investment plan of Reignbraun for the renew of the complex will be ready, commented Mr. Shiliashki.
Source: Standart (10.07.2000)

The former member of the National Electric Company (NEC) Mr. Sasho Chobanov was expelled from the Board of Directors of the insurance company Energy JSC, the director of which is Mr. Ivan Shiliashki. The new people in the Board of the company are Mr. Emil Gavrilov and Mr. Anton Ivanov. They were chosen by the newly-selected Board of Directors of NEC.
Source: Standart (12.07.2000)

Yesterday PA reported that the sale of 42 Water Electricity Plants began. The deals for most of them are expected in the end of the autumn. The sale of 10 coal-extraction companies will also begin. These are the mines "Beli breg", "Pirin", "Balkan2000", "TRB", "Lagun", "Staiantsi", "Zdravets", "Bobov dol" and "Hristo Botev". The ineffective mines will be closed and the rest will be given under concession or will be privatized.
Source: Standart (12.07.2000)

The Mangement of the newly-opened company Toplofikatsia - Rousse SP JSC stated that the capital of the company is BGN 4 million. After the merger of TPS Rousse - Iztok and Toplofikatsia - Ruse, the assets of the new company are made through a mechanical gathering. In this way the debts of the two companies are also accumulated. The debts of the old heating company is BGN 9 million. On the other hand Heating Plant - Rousse owes to NEC BGN 22 million. According to the contract, signed with NEC about the accumulation of this sum to the new company is granted a two-year gratis period.
Source: Pari (12.07.2000)

The French company Mekamidi will be building a new HPS with capacity of 5mV at the Ogosta dam near the town of Montana, was reported from the Municipality. The price of the deal is DEM 6,5 million. A joint venture company, named Mekamidi-Ogosta with 51 per cent French and 49 per cent Bulgarian share has been already registered. The new equipment must be constructed by the autumn of 2001. The Sofia-based company Trafel Electric was chosen for a chief executor of the project, and the Montana-based company Napoitelni Sistemi - for an uner-executor. This is the first Bulgarian project of the French company Mekamici, which is a leader in the construction of small Hydro Power Stations in France.
Source: Standart (20.07.2000)

Austria will grant DEM 250 000 gratis for the modernization of HPS Studen kladenetz, was reported from the National Electric Company. This is the second part of the project for reconstruction of the central which financing is taken by Austria, was reminded by the company. To this moment for the reconstruction of HPS Studen kladenetz are invested ATS 3.9 million.
Source: Standart (26.07.2000)

The Government decided to give concession to the hydro-energetic company (HEC) Gorna Bania for the construction of the dam Madan. This was reported by the Chairman of the State Agency of Energetics and Energy Resources Mr. Ivan Shiliashki. The joint company between NEC and the Turkish company Dzheilan Holding obtains the concession for 35 years with the possibility of expanding the period. Because of the great investments which will be made in the construction of the object, the Government decided to free the company of concession taxes for a period of 10 years. The price for the buying up of the electricity from the cascade will be calculated on the basis of the total expenses on the object.
Source: 24 chasa (28.07.2000)

The Spanish company Union Fenosa and the Italian Enel have shown interest in the seven companies from the electro-distributing system of NEC. This was announced by the Manager of Raiffeissen Investment SP Ltd - Sofia Mr. Alexander Subotinov. The inquiries from abroad are expected to increase in number after the advance of the procedure for NEC’s privatization. Raiffeisen Investment SP Ltd - Sofia will be a consultant of the companies, who are interested in the privatization of NEC, announced Mr. Subotinov. The terms for participation in the privatization will be specified in September. Funds from the Phare program for the preliminary privatization aid of the procedures also will be granted then. The valuations are expected to come out in the end of the year and the privatization of the companies from the electro-distributing parts of NEC will start no sooner than the beginning of 2001, added the Director of Raiffeissen Investment SP Ltd - Sofia.
Source: Pari (28.07.2000)

Yesterday (July 30) four hydro-power stations, parts of NEC, became private possessions HPS Samoranovo became property of HPS Energia SP Ltd. The negotiated price is USD 2 126 002. The buyer, supported by Litex - Lovetch, promises to invest USD 186 000 for a period of 3 years. HPS Osogovo is already owned by Medicom Electric - Troian. The price is USD 171 000. The promised investments are USD 175 000 for a period of 3 years. HPS Phoenix - Rouse is ownership of Ariel - TN - Toni Tzvetanov Iordanov SP - Mezdra. The price is USD 267 890 and the promised investments amount to USD 145 000 for the following 3 years. The price of HPS Leshnitsa is USD 41 000. It is already owned by the company Eco Energy. The investments the buyer must make in the following 3 years are in the amount of USD 18 000.
Source: Sega (31.07.2000)

According to the Executive Director of NEC Mr. Danail Tafrov the price of the electricity that Bulgaria exports for Turkey is good. Also he stated that the electricity is with high pressure and costs 2.5 cent and is normal its price to increase after the transport and transformation. The export for Turkey will exceed the negotiated quantity of 2.2 billion kWh and will reach 3 billion kWh for this year.
Source: Pari (31.07.2000)

51 per cent of the shares of the hydro-power company Gorna Arda could be given to the Italian Company NL. This was reported from the Energetics Agency. This will happen if the Italian company agrees to provide 70 per cent of the investments, needed for the construction of the cascade. There is still no contract signed. According to the preliminary plans the construction of Gorna Arda will cost USD 220 million. The shareholders of the company - NEC and Dzheilan Holding - will provide 15 per cent of this sum each. Besides the Italian NL, investment interest in the project has also been shown by the Austrian company ABB and the German EON U Energy.
Source: Standart (01.08.2000)

110 companies submitted applications for license in the State Energy Regulation Commission (SERC). This was announced from the commission yesterday. 51 gas companies, 35 heat-supplying companies and 13 power supplying companies will demand permits. Among the companies, applying for licenses are the 7 heat-distributing companies, NEC, NPS Kozlodui and others. The deadline for the presentation of the applications is July 22 and it will not be prolonged.
Source: Standart (02.08.2000)

Losses, amounting to BGN 4.5 million were caused to NPS Kozlodui by former Directors. This was found after the check-ups of the District Prosecutor's Office in Kozlodui, the Economy Police and the State Financial Control. According to them the greatest offences were made by the former Chief Accountant Mrs. Emilia Solunska. There are ten more employees accused of financial abuse.
Source: 24 chasa (02.08.2000)

The hydroenergetic company Gorna Arda JSC received a concession on Madan dam, that will be built during the next 6 years. The company is a joint-venture company between NEC and the Turkish Holding Dzhelain and was founded for the construction of the cascade Gorna Arda. The term of the concession is 35 years and the company will not pay any fees during the first 10 years.
Source: Pari (28.08.2000)

The Bourgas-based company Elcable & Co. will be building a cable plant in Cyprus, was announced by one the company's executive directors Mr. Memnon Papageorgiu. According to the latest information, the company's turnover for 1999 amounts to DEM 40 million for the home markets and another DEM 40 million for the foreign market. Elcable has been the main supplier of components for NEC, BTC and LUKoil Neftohim. According to data from the company, the share of Elcable at the German and Russian market has considerably raised. Only from the last auction, announced from BTC for the supply of cables, about USD 2.8 million will enters Elcable. The company is making investments in objects based in Macedonia, Albania and Ukraine.
Source: Standart (04.09.2000)

In the request of Cable Bulgaria for construction of high-speed optical network there is nothing illegal. It will be illegal if by it is transferred voice in real time not for free before the monopoly of BTC has fallen. The decision of the Council of Ministers to give its support to such a project does not concern BTC as the telecommunication company has monopoly not over the network but over the service transportation of voice through it. The intentions of Cable are over the network to be transferred TV and Radio signals, as well as Internet traffic. The company has 22 licenses for televisions in different cities. It is more profitable for it to transfer the signal among them alone not by paying to BTC. A telecommunication system of this kind in Bulgaria has Gukis. The company requests from its clients a declaration that they will not transfer voice. During June the Minister of Transport Mr. Antoni Slavinski disputed the meeting the project of Cable.
Source: Sega (30.09.2000)

The American company SBM Energy Ltd. Will be making a survey and sounding for natural gas in the Dobrudzha Coal Field. A contract was signed between representatives of the American company and the Bulgarian State Energetic and Energy Resources Commission (SEERC). According to this contract, the Bulgarian Government gives the company a permission for the gas prospecting in the coal beds for a period of three years with the right of an extension of two years each, explained Mr. Ivan Shilyashki - representative of the Bulgarian side. According to him, the American company will spend a minimum of USD 815 000, which can grow up to USD 2 315 000 during the initial term for permission. If the term should be continued, the expenses will reach USD 5 million
Source: BTA (05.10.2000)

The Energetics Agency will deal a contract up to several days with the hydroenergy company Gorna Arda for receiving a 35-year concession for the dam Madan. The Government decided about the concession in the beginning of August. Gorna Arda will not pay a concession fee in a period of 10 years and then it will be calculated up to 1.5 per cent of the incomes from sales of electricity. However it is not selected a third strategic investor
Source: BTA (05.10.2000)

Bulgaria will negotiate with Serbia for export of electricity, declared the Executive Director of NEC Mr. Danail Tafrov. There is opportunity Russian and German companies to be agents at the execution of the transport. NEC has a capacity of export of electricity 1 billion kWh annually and for this purpose the capacities of NPS Kozludui and TPS Varna have to be loaded up more. A main competitor about the deal with Serbia is Romania, that has a great reserve of production capacity.
Source: Pari (18.10.2000)

The budget of the Parliament for 2001 will increase with 38.37 per cent in comparison with the funds which the Parliament has this year. This is offered in the project budget for the next year. It is expected the expenses of the Parliament to be BGN 18.806 million. The budget of the Council of Ministers will be also raised - from BGN 66.2 million this year to BGN 78.182 million for 2001. This increase is with 18.1 per cent and the expenses in the budget are increased only with 13 per cent. BGN 3.3 billion are expected for the expenses of all departments and budget organizations.
Source: Standart (25.10.2000)

The Government will approve the amendments in the Privatization Acts which the Prime Minister Mr. Ivan Kostov will declare at the Meeting on October 26. The changes in the privatization include more considerable control on the deals by the Supervisory Board of PA and by the Parliament. The decisions for privatization of some companies from the services sector and the monopolists like NEC, Bulgarian State Railways, BTC, will be taken by the Government but after an approval by the Parliament. Mr. Kostov promised that the MEBOs won't be admitted to the privatization of the services and monopolists. It is expected to be approved the amendments in the Privatization Act with which will change the structure of management of PA.
Source: Standart (26.10.2000)

The Turkish Government has to offer another Turkish companies for partners for the infrastructure projects in Bulgaria because of the financial problems of Celain holding. This was stated by the Minister of Regional Development and Construction Mr. Evgeni Chachev before his visit in Turkey to meet the Minister of Energetics Mr. Djumhur Ersujmer.
Source: Sega (31.10.2000)

The price of the natural gas is increasing with 16.42 per cent up to BGN 312 with VAT added for 1000 cubic metres, decided the Government in a decree for defining the prices of the electricity and the natural gas. The reason for the increase is the highest prices of the fuels at the International markets and respectively of the deliveries of natural gas from Russia, stated the Chairman of the State Energetics Agency Mr. Ivan Shiliashki. The increase will be compensated with an additional subsidy from the budget for this year for the heating centers that amounts to BGN 16 million.
Source: BTA (03.11.2000)

The Director of the State Energetics Agency Mr. Ivan Shilyashki dismissed from the the Board of Directors of Remotex JSC, Radnevo Mr. George Dimov and Mr. Dragomir Draganov. The biggest company for mine equipment left without an Executive Director when after 3 consecutive days 1280 workers blocked the road Rousse-Svilengrad.
Source: Sega (07.11.2000)

The State Energetics Agency approved the draft contract for the sale of a HPS from the cascade Pirinska Bistritza with the Bulgarian-French Mekamidi, was reported from the Agency. From the Agency was recommended to be changed some of the clauses in the contract. According to the draft contract the buyer did not have to change the activity of the company for a period of 3 years. The offer of the Agency is to be signed in the document that Mekamidi doesn't have the right to change the activity of the company in any term.
Source: Standart (09.11.2000)

The syndic association to Agropolihim - Devnia sent an open letter to the Prime Minister Mr. Ivan Kostov and the Ministers Mr. Petar Zhotev, Mr. Muravey Radev and Mr. Ivan Shiliashki. The association reminds that the permanent increase of the price of the natural gas that is the main raw-material for the production will bring the company to liquidation. According to specialists from the association during the summer of 2000 after the consecutive increase of the prices were approved measures for relieving of the fertilizer's plants.
Source: Black sea (09.11.2000)

The Government granted to mines Balkan SP Ltd that are in a procedure of insolvency, BGN 650 140 for the paying off of the debts to the National Insurance Institute, accumulated by the end of 1999. The funds are from Reserve for unexpected expenses fund and the control for the use of the funds is assigned to the Chairman of the State Energetics and Energy Resources Agency Mr. Ivan Shiliashki.
Source: BTA (10.11.2000)

The Prime Minister Mr. Ivan Kostov stated that the position of the Bulgarian Government for stopping the 3rd and 4th block of NPS Kozludui in 2008 - 2010 remains unchanged. In the agreement between Bulgaria and European Union, the European Commission pointed as a deadline 2006 against the deadline of Bulgaria - 2008-2010. At the moment NPS Kozludui is making a technical preparation for extracting from exploitation of 1st and 2nd blocks in accordance with the agreement but if in the beginning of 2001 the European Commission does not provide a financial aid, the station will be in a difficulty of executing the appointed measures. The station is realizing an ambitious programme for modernization that allows 3rd and 4th blocks to work in the frames of their exploitation resource.
Source: Black sea (14.11.2000)

The revenue from the agreed electricity exports this year will be over USD 105 million, the Prime Minster Ivan Kostov told a working meeting which discussed the revised national strategy on the electricity sector. Bulgaria has the capacity to cover nearly half of the deficit of the Balkans which turns it into a regional electricity center, Mr. Kostov told the meeting.
Source: Pari (14.11.2000)

Djeline Holding did not come to the General Meeting of Hydroenergy company Gorna Arda JSC, declared the Executive Director of the company Mr. Nikolai Naumov. The Meeting was postponed. In the daily items of the General Meeting are included a raise of the capital of the company and a change of its statute and a election of expert-accountant. NEC possesses 50 per cent of the Hydroenergy company Gorna Arda JSC and Djeline Holding also has 50 per cent of it. The joint company was established in order to construct and exploit the cascade. The Minister Mr. Evgeni Chachev announced last week after his visit in Turkey that the holding will not participate in the construction of the cascade Gorna Arda.
Source: Standart (17.11.2000)

PA sold the cascade Pirinska Bistritza - a detached part of NEC, for USD 15 million to Mekamidi - Sofia Ltd. The half of the price will be paid in cash on the day of the deal and the rest - in State ling-term bonds issued in accordance with the exrenal and domestic debt of Bulgaria or with investment bonds or with other funds by a deadline of 30 days. The new owner is obliged to invest in the cascade USD 1.2 million and to increase the work-places from 26 to 30. The cascade Pirinska Bistritza includes HPS Pirin and HPS Spanchevo.
Source: BTA (20.11.2000)

The General Meeting of the Bulgarian-Turkish company Hydroenergy company Gorna Arda finished last week without taking any decisions. The representatives of Djeline inshaat - the partner of NEC did not come again. The holding has serious financial problems. Jaline possesses the half of the capital of Gorna Arda and for taking decisions are necessary 51 per cent of the votes of the shareholders. The new General Meeting will probably be appointed for January 2001. It is expected at it to be taken a decision for buying up of the shares of Djeline from NEC at their face values. Gorna Arda has not still dealed a contract with the State for receiving a concession for Madan dam, specified the Management of the company.
Source: Trud (20.11.2000)

It is a question of a sum of about BGN 240 000. According to the Executive director Mr. Valentin Bakalov the management have depended to this money to pay to the State for the Added Value Tax. On the other hand Lekoko is late with its implement because it is waiting for the tax administration to return it the money from the Added Value Tax. According to the contract for the sale of the Mechanical department the postponement gives Stomana the full right to cease its action. The big expectations of the creditors are connected with Evrometal - a leading shareholder in Lekoko and owner of the main department in the plant. The liquidation plan says that their money from Stomana JSC the State and the workers will receive and full amount. The companies that purchased the debts of the secured creditor - the former TSBank may depend on 16.78 per cent of the face value of their claims. The official owner of the main department is Stomana Industry SPLtd. But all shares in it holds Evrometal. Apart from the main production and the mechanical department in private hands are five more detached parts of the plant The price that was negotiated for them is BGN 1.8 million. Stomana posses also warehouses, plots, holiday stations and departments for which there have been no applicants. The procedure over the sale of these assets will take some time. The reason is that on the General Meeting of Stomana which took place on 28 September this year was decided these assets to be evaluated and to be offered on open auctions.
Source: Banker (20.11.2000)

The German Energy Company EnBW takes interest in the privatization of Elektrorazpredelenie-Plovdiv SP JSC, stated the Chairman of the Board of Directors Mr. Nikolai Nalbantov. EnBW is the second biggest concern in Germany. The French company Electricity deux France has also shares in it. The energy companies in Hungary are now owners of the company. At the moment there are only negotiations with the German company because the privatization of the SP JSC can not happen at fixed amounts of the electricity. According to the Energetic Act the price will be freed in 2002. Another hinder for the western investors was the difficulty in the gathering of the receipts which is very high. The Ireland company ESBI is selected at an auction for consultant of Energorazpredelenie and will prepare the privatization of the company. The main task of the Irish specialists is to decrease the losses of the Bulgarian monopolist to the minimum rates.
Source: Maritsa (27.11.2000)

Three guaranty agreements for the loans extended to the modernization programmes of the 5th and 6th units of the Kozlodui NPP, were ratified by the Parliament yesterday. The agreement between NPP, National Electric Company (NEC) and the European Atomic Energy Community, signed on May 29, 2000, endorses a loan of EUR 212.5 million. The second agreement on a loan of USD 76.6 million, is signed between Bulgarian Government as the guarantor, Citibank as the creditor and US Export - Import Bank as the agent. The third agreement, worth USD 80 million, contracted between the NPP, NEC and Russian Export Import Bank, was signed on October 26, 2000.
Source: BTA (30.11.2000)

The property of the biggest cannery factory in Rousse region - Dunavia JSC was declared by the syndic of the company for selling off in the end of December. In the list are included 635 different fixed assets of the insolvent company. The factory has not worked for more than one year and has a great deal of debts. Only to Elektrosnabdiavane-Rousse it owes BGN 162 000. Because of a debt of BGN 1.3 million to the local Heating-supply centre may be sold off a part of the assets of another big Rousse-based company - Dunavska koprina JSC. By the end of the week the major owner of the company Mr. Mark Liberman from Germany has to offer an acceptable payment plan of the debts.
Source: Pari (30.11.2000)

The capital of Hydroenergy complex Gorna Arda - the company that was created in order to build the cascade was increased and the share of the Turkish company Celain dropped with 20 per cent. The capital was increased from BGN 602 000 to BGN 1 million. The Chief Executive Director of NEC Mr. Danail Tafrov stated that the Turkish company has to remain with a share of 15 per cent in Gorna Arda.
Source: Sega (08.12.2000)

Almost 9 months were necessary of the State Administration in order to create the new strategy for the privatization of Sopot armouries. With decision of the Council of Ministers as of March 30, 2001 was assigned to the Ministry of Economy to write it. Now is expected the approval of the Intergovernmental Commission.
Source: Banker (11.12.2000)

A gas electric station near Durankulak, Shabla Municipality, will be included in a paralel with the National energy system. 72-hour examination tests ended last week and the object is approved by the State Energetic Commission. The equipments were constructed for 3 months by the company Oil and Gas Exploration and Production. It exploits gas resources at the North-eastern Black seaside.
Source: Black sea (12.12.2000)

Auditors from the State Financial Control (SFC) were checking 11 months the financial condition of NEC, was reported from the company. The revision ended 2 weeks ago. The inspection of SFC includes the period from 1993 to the separation of NEC as an independent company in April 2000. By December 20 the Management of NEC has to sent its statement and its objections at the auditing act of SFC. In the act of SFC is revealed the contact of the company with the insurance company Energy in which NEC holds 50 per cent of the shares. According to specialists from NEC the contract with Energy was dealed at very favourable conditions for the electric company at the least percentage of the interests and the highest percentage of insurances.
Source: Standart (13.12.2000)

NEC wants to increase its shares in the joint-ventured company for construction of the cascade Gorna Arda up to 84 per cent. Representatives of the company are leaving to Ankara where will take part in the meeting of the Board of Management of the Turkish holding. There they will negotiate with Celain for decreasing its shares to 16 per cent, was reported from NEC.
Source: Standart (13.12.2000)

Celain holding will continue its participation in HEK Gorna Arda, stated the Executive Director of NEC Mr. Danail Tafrov from Turkey. There he discusses with a delegation the future presence of the Turkish holding in the joint-venture Bulgarian-Turkish company. At a General Meeting of Gorna Arda that will be appointed to the end of January, will be discussed the increase of the capital at which NEC would acquire the main part of the shares of the joint-venture company, the change of the statute and starting of the construction.
Source: Pari (15.12.2000)

The construction of Luki cascade is starting in the beginning of 2001. The cascade will include 8 small Hydro Power Stations that will be with a capacity of 200 kW. For the construction of the equipment along the river valley of Luki river was created a consortium between Luki Municipality, GORUBSSO, Hydroecoengineering and Minstroy-Rodopi. According to preliminary accounts the necessary funds for the construction of the 8th micro HPS are BGN 3 million. The Executive Director of Minstroy-Rodopi specified that in research activities have so far been spent about BGN 60 000.
Source: Otzvuk-Smolian (18.12.2000)

Turkish Holding Ceylan controls currently only 5 per cent of the shares in the joint-venture for construction of the hydro cascade Gorna Arda JSC - Kurdzhali. The remaining 95 per cent have been acquired by the state-owned National Electric Comapny JSC. In the beginning of the next year 51 per cent of them will be allocated to a third strategic investor. This was reported by the Minister of Regional Development and Construction Mr. Evgeni Chachev. The General Meeting of Gorna Arda JSC was postponed on February 8, 2001.
Source: Standart (29.12.2000)