Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Westinghouse Shows Renewed Interest in Bulgaria's Nuclear Plant
Date: 05/03/2011
Westinghouse Shows Renewed Interest in Bulgaria's Nuclear Plant

US company Westinghouse has showed renewed interested in investments in Bulgaria's only operational nuclear power plant Kozloduy, according to Minister of Economy, Energy, and Tourism Traicho Traikov.

While on a state visit in Spain over the weekend, Traikov met with Jose Gutierrez, CEO and Vice President for Southern Europe of the US energy giant Westinghouse. Traikov was in Madrid as part of a delegation led by Bulgarian Prime Minister Boyko Borisov.

Westinghouse has declared interest in participating in the modernization of the Bulgarian Kozloduy NPP in order to extend the life of its two operational reactors – Unit 5 and Unit 6, the press service of the Economy Ministry said.

The company has also offered to participate in the supplies of nuclear fuel for the Bulgarian nuclear plant. Russia has traditionally been the sole supplier of nuclear fuel to Bulgaria.

This is the second time in less than a year of Westinghouse demonstrating interest in investments in the Bulgarian nuclear plant in Kozloduy.

Back in April 2010, as Traikov was in the USA seeking American investments for the construction of the second Bulgarian nuclear plant in Belene, Westinghouse indicated it could be interested in building a seventh reactor in the plant in Kozloduy.

At the time, Westinghouse presented to Traikov the opportunities of its new generation reaction AP1000, which can be constructed in three years. The US corporation also said it was ready to license its nuclear fuel for the Soviet-made Bulgarian reactors.

However, in the fall of 2010, Bulgarian Ambassador to the USA Elena Poptodorova indicated for (Sofia News Agency) that a Westinghouse investment in Kozloduy was not on the agenda at the moment. US Ambassador in Sofia James Warlick told that Westinghouse will likely be considering the construction of new reactors in Kozloduy, should the Bulgarian government start a procedure for such an investment.

Only the two VVER-type 1000-MW reactors at Kozloduy are in operation after Bulgaria agreed to shut down the "small" 440-MW reactors 1-4 in 2002 and 2006 as part of its EU accession negotiations.

The Bulgarian government continues to be haggling with the Russian company Atomstroyexport over the price for the construction of two 1000-MW reactors in the future second plant in Belene, and to be struggling to find strategic foreign investors. Traikov himself has indicated several times that Bulgaria could decide to build one or two more reactors in Kozloduy regardless of the fate of the questionable Belene project.

Topic: Economy

Featured District
Invest Bulgaria Charts
Private Sector External Debt of Bulgaria
Private Sector External Debt of Bulgaria

Consumer Price Index of Bulgaria (annual change)
Consumer Price Index of Bulgaria (annual change)

See all charts
Did You Know?
John Atanasoff
John Atanasoff
Did you know that professor John Atanasoff, a Bulgarian, built the world's first electronic-digital ... More

Vasil Levski national stadium - one of Bulgarias biggest sport sites - is located in the center of Sofia. Reconstructed in 2002, it has 43,632 seats and is eligible to host UEFA cup final matches.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2019 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.

Bulgaria Translation Bulgarian Agriculture Bulgarian Textile Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.

Our Featured Members