Bulgaria's Prime Minister Boyko Borissov and Lower Austria Chancellor Erwin Proell broke ground Monday for a new co-generation facility in Plovdiv, Southern Bulgaria.
The new electric and heating power plant will be constructed by Bulgaria's Austrian-owned power utility EVN EVN Bulgaria near the Plovdiv North Heating Plant.
"Bulgaria has to take full advantage of the fact that it is situated on international crossroads to attract investments in infrastructure," stated Borisov Monday.
On his part, Chancellor Proell stated that the relations between the two countries are based on open cooperation.
EVN plans to invest BGN 100 M in the new electricity and heating plant, which will be the most modern cogeneration not only in Bulgaria, but also in the Balkans.
The new facility will be producing 49.9 MW electrical power and 54 MW heating power.
The production of electricity is expected to help stabilize the electricity supply in the region. EVN is the electricity distribution company for South-central and Southeastern Bulgaria.
The new plant will run on natural gas, and will be 20% more efficient than the existing Plovdiv North Power Plant.
According to the Manager of EVN Bulgaria Toplofikatsia, the new facility will be more-environment friendly, and will use latest technology, which guarantees it will operate for 20 years without failures and repairs.
The plant is scheduled to be fully operational by the end of 2011.