Sat, Feb 18 2012

Energy Minister in no conflict of interest on Gorna Arda hydro-power array project

Wed, Nov 25 2009 11:45 CET

byThe Sofia Echo staff

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Energy Minister in no conflict of interest on Gorna Arda hydro-power array project

Energy Minister Traicho Traikov

Photo: Nadezhda Chipeva

Economy, Energy and Tourism Minister Traicho Traikov was not involved in any conflict of interest when the Government designated Hydroenergy Company Gorna Arda as the investor in the Gorna Arda hydro-power array project worth about 500 million euro.

This was the decision of Parliament's anti-corruption, conflict of interests and parliamentary ethics committee, Bulgarian-language Dnevnik reported on November 25 2009.

The Bulgarian Socialist Party in opposition asked the committee to review the issue because of the change of ownership in Hydroenergy Company Gorna Arda as a result of which Turkey’s Ceylan Group sold its stake to the consortium made of Austria’s EVN and Alpine Bau.

Before becoming a minister in July this year, Traikov was receiver in two utility companies owned by EVN in Bulgaria.

The committee decided that his position with EVN was not part of the company's management bodies, hence there was no conflict of interest.

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