London (Platts)--21Jan2008
Russia is offering to loan Bulgaria 3.8 billion Euros (US$5.5 billion) for construction of two 1,000-MW-class reactors at Belene, a spokeswoman for Atomstroyexport, or ASE, said January 18.
The spokeswoman was confirming press reports of Russian President Vladimir Putin's visit to Sofia January 18. As expected, ASE and Bulgaria's national electric company, NEK, signed the engineering, procurement and construction contract for the reactors during Putin's visit, the two companies said in a statement.
The contact, valued at about Eur 4 billion, also covers commissioning of the planned plant. Financing for the project is far from completed, however. NEK is still reviewing bids from Belgium's Electrabel, Czech Republic's CEZ, Italy's Enel and Germany's E.On and RWE for a 49% stake in the project. Also, Bulgaria is expected to apply for up to Eur 300 million from the European Investment Bank and up to another Eur 300 million from the EU's Euratom loan program for the Belene reactors.