Rosatom pressing Bulgaria to ink next agreement for Belene project

Rosatom pressing Bulgaria to ink next agreement for Belene project

Russia's state nuclear energy company Rosatom is urging Bulgaria to sign another agreement related to the construction of the Belene nuclear power plant, the company said in a media statement on Sunday.

Bulgaria will pay no funds from the state budget for the plant's construction, but at the same time it will keep its 51% share in the project, Rosatom said.

"The project company could attract independently the insufficient credit resources with a maturity date starting at the time the first reactor start selling its electricity abroad and with a repayment period of 20 years," according to the statement.

That way, without paying anything, Bulgaria will have a nuclear power plant that will supply the country with electricity at a low price in the first 20 years of operation and bring steady profits to the budget as a beneficiary of power grid operator NEK in the next 40 years, Rosatom added.

Bulgaria picked Rosatom's unit Atomstroyexport to build the Belene nuke plant in 2006. The parties have so far inked 11 annexes to the main contract, with the 12th agreement, settling the implementation of activities in the 2011-2014 period, expected to be signed in March./Sourse Dnevnik/

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