Bulgarian Minister of Energy Temenuzhka Petkova will attend the meeting of the Russian-Bulgarian working group, which is focused on the issues related to the implementation of the NPP Belene arbitration ruling, in Moscow. This is the group’s second meeting, after the meeting in Sofia in early September.
In mid-June, the Arbitration Court in Geneve has ruled that Bulgaria has to pay compensation to Russian company Atomstroyexport (ASE) over the cancelled project for the construction of nuclear power plant Belene. According to the ruling, Bulgaria will have to pay for the equipment which ASE produced for the plant in the amount of 550 million euros. The project for construction of NPP Belene was finally terminated in March 2012, by the right wing government of Bulgaria, who claimed that project’s cost would be even 10.35 billion euros and thus would be economically unfeasible for Bulgaria. However, due to accrued interest, Russia currently claims the payment of 620 million euros.
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Tags: arbitration, Atomstroyexport, BEH, Belene, Bulgaria, NEK, NPP, Russia