Bulgaria's BEH to lend 25.6 mln euro to coal miner Mini Maritsa Iztok to fund investments

Bulgaria's BEH to lend 25.6 mln euro to coal miner Mini Maritsa Iztok to fund investments

State-owned Bulgarian Energy Holding will provide a 50 million levs ($30.2 million/25.6 million euro) loan to its coal mining unit Mini Maritsa Iztok in order to finance its investment programme and repair activities, energy minister Temenuzhka Petkova said on Tuesday.

A further 5 million levs will be made available to Mini Maritsa Iztok to finance an increase of the salaries of its employees as of October, Petkova said in a statement following a meeting with representatives of local trade unions.

The government has firmly committed to develop Bulgaria's coal-fired power plants, Petkova said.

Mini Maritsa Iztok's coal mines in southern Bulgaria sell their output mainly to three thermal power plants located nearby, two of them owned by ContourGlobal and AES, respectively, and one state-owned. The two power plants owned by ContourGlobal and AES generate around 30% of Bulgaria's electricity output.

BEH owns a group of Bulgarian state-owned companies which are engaged in electricity generation, supply and transmission, natural gas transmission, supply and storage, and coal mining.


Cookies Preferences
Choose Type of Cookies You Accept Using

These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.

These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.

These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.