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Siemens Likely Strategic Investor in Bulgaria's Belene NPP
Date: 26/10/2010
Siemens Likely Strategic Investor in Bulgaria's Belene NPP

German company Siemens is most likely the new strategic investor in Bulgaria's Belene nuclear power plant, sources said.

Bulgaria's PM Borisov on Monday, following Parliament Chair Tsacheva on Sunday, revealed that the government has found a German company that is interested in investing in the Belene NPP.

Neither Tsacheva, nor Borisov, however, revealed the name of the company that is to become the strategic investor in Bulgaria's second nuclear power plant.

They did make it clear, however, that Borisov had talks with the German company in question during his last week's visit to Munich, the capital of the Free State of Bavaria.

A source close to the Bulgarian government wishing to remain anonymous said that Siemens is most likely going to invest in the Belene NPP.

At present, Siemens is one of the subcontractors of Russian company Atomstroyexport, which has been chosen to build the Belene plant.

The headquarters of Siemens in Berlin advised to address Siemens Bulgaria on whether the information can be confirmed or refuted; the respective department of Siemens Bulgaria could not be reached in the late afternoon on Monday.

Last week the CEO of Bulgaria's National Electric Company NEK Krasimir Parvanov said there was a possibility that German energy company RWE could re-consider its decision to withdraw from the Belene project.

In December 2008, RWE was originally selected as a minority shareholder to provide EUR 2 B for the construction of Belene (in exchange for a 49% stake). However, it pulled out in the fall of 2009.

The Bulgarian government is expected to reveal this or next week who the strategic investor in Belene will be.


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