The Gorna Arda hydropower plant project is extremely important for the development of the region of south-eastern Bulgaria, said Bulgarian PM upon the joining of Austrian energy giant EVN in the venture Monday evening in Vienna.

The Bulgarian National Electrical Company (NEK) and Austrian energy giant EVN stroke a deal earlier Monday over the construction and exploitation of the hydropower station during Borisov's official visit to Austria

Commenting upon the event, Borisov said that construction may start early 2012.

He also stated that he hopes around 4-5000 new workplaces can be opened up in connection with the new hydropower plant, while EVN has committed to at least 3000.

The Bulgarian PM said that the project will turn out to be less expensive than initially expected and called upon companies to be involved in the project not to offer or accept unwarranted payments, implying he will not tolerate corruption.

EVN CEO Burkart Hoffer expressed consent and warm thanks to the Bulgarian government in their efforts to facilitate the execution of the project.