Atomstroyexport sues Bulgarian power firm for 58m euros

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RIA Novosti, PUBLISHED July 22, 2011

Russia's Atomstroyexport has filed a lawsuit demanding that Bulagria's National Electric Company (NEK) pay 58 million euro in arrears for the construction of Belene nuclear power plant, a representative of the Russian company said.

The legal action, at the International Court of Arbitration in Paris, is necessary because NEK is dragging its feet on paying for already completed works, the official said on condition of anonymity.

"As the Bulgarian company is facing hard times, at its request we granted it a delay in payment and agreed a repayment schedule," he said, adding that NEK had not met this schedule.

Construction of the 1,000 MW Belene nuclear power plant began in 1984, but was halted in 1991 over a shortage of funding and protests by environmental groups.

In 2004, the Bulgarian government decided to resume construction, and NEK signed a contract with Atomstroyexport in January 2008 under which the Russian company would design, construct and install two 1,000 MW reactors at Belene.

In November 2010, Bulgarian Prime Minister Boyko Borisov said the country would not allot any more money to Belene.

He emphasized that he would continue further discussions on Belene only if Russia invested additional money into the project, adding that Belene construction costs were around 6 billion euros.

Topics: NPP, East Europe, Bulgaria, NPP Belene, Atomstroyexport

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