Sat, Nov 21 2009

Gazprombank may finance Bulgaria’s Belene nuclear station

Fri, Apr 17 2009 10:53 CET byDnevnik.bg 1645 Views
Gazprombank may finance Bulgaria’s Belene nuclear station

Photo: Nadezhda Chipeva

Russia has named Gazprombank as one the institutions that could extend a loan to Bulgaria’s national power grid operator NEK for the construction of the Belene nuclear power plant on the Danube River.

The news was announced by Bogomil Manchev, manager of Bulgarian firm Risk Engineering, which provides technical consultancy services for the project, in partnership with UK firm Parsons.

During his visit to Moscow two weeks ago, Bulgarian Economy Minister Petar Dimitrov asked about the terms under which Russia was willing to lend the 3.8 billion euro it had earmarked in its budget for the construction of Belene. Since then, both NEK and the ministry have declined to give more details about the talks.

Bulgaria had to ask for Russia's help after the ongoing global financial and economic storm knocked down other financing options for what banks consider a risky project. Other Russian banks that could potentially bankroll the nuclear project include state-owned Sberbank, Vnesheconombank and Vneshtorgovbank.

Earlier this year, Russian media reported that Sberbank and Gazprombank have asked for a government lifeline to shelter against the global economic storm.

Ivan Atanasov, who chairs the project’s coordination and monitoring team, confirmed for Dnevnik that the issue of prospective lenders had been on the table but said no details have been agreed yet.

Source: Dnevnik

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