President Plevneliev's Veto Survives Parliament Vote
(Sofia, Jan 12) - Bulgarian MPs supported President Rossen Plevneliev's veto on the Investments Encouragement Act and returned it for further discussion.
Only three MPs supported the Act, 24 voted against it and 95 abstained from voting.
President Plevneliev vetoed the new law because, as he made it a point, the new regulations for residence of foreign investors in Bulgaria create many obstacles for their business activities....
Bulgaria to Start Nabucco in June 2013
(Sofia, Jan 11) - The construction of the Bulgarian section of the Nabucco pipeline will start in June 2013, Prime Minister Boyko Borisov informed at the first ministerial meeting of the project in 2013 in Sofia.
As the current head of the rotating presidency of the project, Bulgaria is calling for fix deadlines, the PM said. By June Bulgaria will have all the construction permits and mining companies from the "Shah Deniz-2" field will decide...
Construction of NPP Kozloduy's Seventh Reactor to Start in 2016
(Sofia, Jan 12) - "The first sod of NPP Kozloduy's seventh reactor will be turned in 2016," Bulgaria's Economy and Energy Ministry Delyan Dobrev said.
His statement was also supported by Sergey Tsochev, chairman of Bulgaria's Nuclear Regulatory Agency.
"The preparation of the necessary analyses and documents regarding the selection of a site for NPP Kozloduy's seventh reactor is to be completed in the second half of...
Bulgaria has secured a one-year extension to repay the 250 million euro bridge loan arranged by BNP Paribas to fund preliminary work on the planned Belene nuclear power plant on the Danube River, Economy Minister Delyan Dobrev said on May 7, as quoted by Focus news agency.
The option to postpone the due date was contingent on securing 55 million euro for immediate repayment of the amounts loaned by Belgium's Dexia and Japanese bank Mizuho. The funds will be provided to state electricity...
Sun Edison this week sold Bulgaria's largest solar park to a consortium of investors for Ј142m. The 60.4-megawatt Karadzhalovo solar park in southern Bulgaria began operating in March and cost Ј144m, according to the International Finance Corporation, which helped fund the project....
An enormous new vacation complex is to be build on Bulgaria's Northern Black Sea coast, announced Atanas Stoilov, Mayor of the Municipality of Aksakovo near Varna.
Stoilov told reporters Tuesday, as cited by Darik Radio, that the new resort will be built between the village of General Kantardzhievo and the Albena resort complex on a plot of 300 decares.
In his words, the project first started several years ago when it was initiated by French investors. After one of the investor's...
Bulgaria's State Commission for Energy and Water Regulation, DKEVR, has already adopted one of the Electricity and Gas Directives, requested by the European Commission.
The statement was made Friday by the DKEVR Chairman, Angel Semerdzhiev.
It was reported Thursday that EC is referring Bulgaria, Estonia and the United Kingdom to the Court of Justice of the European Union for failing to fully apply the EU internal energy market rules.
According to the EC's press office, to date...
Italian companies may be attracted in privatization projects, including for tourist sites, as well as concessions agreements and modernization schemes for airports, and construction and reconstruction of road and railway infrastructure in Bulgaria, according to Minister Bozhidar Lukarski.
Speaking Tuesday at the opening of an economic forum titled “Bulgaria and Italy: Together for Achieving Growth”, Lukarski pointed out that the trade and economic cooperation between Bulgaria and Italy...
12 July 12, 2017, Sofia. Miss Hosting (one of the largest Scandinavian hosting providers) announced that it has chosen Sofia as it global center of operations. The company plans to hire up to 100 people in the next 2 years to support its global growth as well as its entry into the Bulgarian hosting market.
The company is headquartered in Stockholm, Sweden with offices in Miami, USA, Nashik, India and local presence in Norway,...
The Bulgarian military-industrial complex invests between 10% and 30% of its combined profit annually in research and development activities.
According to the latest report of the Bulgarian Defense Industry Association made public during its recent annual meeting this makes between BGN 2 M and BGN 6 M.
The total turnover of the Bulgarian military plants in 2009 was a little over BGN 200 M.
The major topic discussed during the annual meeting of the Bulgarian Defense Industry Association...
Two US companies have expressed interest in drilling for shale gas in Bulgaria, the Ministry of Economy, Energy and Tourism announced.
The Ministry has received a total of seven requests for exploration permits by two companies – Chervon Bulgaria Holding BV stationed in the Netherlands, and the Texas-based Integrity Tower Inc.
Chevron has expressed interest in exploring two sites, while Integrity Tower has asked for five permits for exploration in Northeast Bulgaria.
The possibility...
The US ambassador to Bulgaria James Warlick gave an official presentation Tuesday of American company Chevron, which has expressed interest in drilling for shale gas in the country.
Chevron representatives, headed by company vice-president Ian MacDonald, are in Sofia for talks with PM Boyko Borisov and other high-ranking officials in order to present their offers.
“Bulgaria has the opportunity to diversify its energy sources. I hope that a prospecting license will swiftly be granted to...
The first Bulgarian factory for the recycling of old electric appliances and equipment, the largest and most modern of its kind in Eastern Europe, was opened Monday in the town of Novi Iskar near Sofia.
The Bulgarian company Nadin Jsc is the owner and operator of the new plant, and has invested BGN 40 M in its construction. It has created 150 news jobs.
The factory is the largest of its type in Eastern Europe and uses German technology allowing the complete recycling of used electric...
French company Saint-Gobain Weber started Wednesday the construction of its second factory in Bulgaria.
The ground-breaking ceremony for the factory located near Izvorsko village, Aksakovo Municipality, close to Varna, was attended by Bulgaria’s Regional Development Minister Rosen Plevneliev.
The second factory to be built by Saint-Gobain Weber in Bulgaria will also be producing dry construction mixes.
Saint-Gobain Weber entered the Bulgarian market in 2001. In 2004, it opened its...
Japan's Ambassador to Bulgaria will pay a visit to the town of Yambol on Wednesday to discuss the planned investment of a Japanese company in the construction of a solar power plant there.
The meeting is at the initiative of His Excellency Makoto Ito, the municipality announced.
The Japanese company Toshiba voiced last year plans to invest in construction of solar power plants in the USA and countries in Europe, including Bulgaria.
Toshiba will begin implementing its investment plan...
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