Gulf Daily News: Oman Oil to invest USD 5.2 billion in Bulgaria

Gulf Daily News: Oman Oil to invest USD 5.2 billion in Bulgaria
5 February 2007 03:22 FOCUS News Agency

Sofia. State-run Oman Oil has expressed interest in investing in a EUR 4 billion (USD 5.2 billion) nuclear power plant in Bulgaria and in a trans-Balkan oil pipeline, the Bulgarian energy ministry said yesterday as cited by Gulf Daily News.During a visit of Energy Minister Rumen Ovcharov to Oman, the company said it was ready to take part as a strategic investor in a 2,000 megawatt nuclear plant on the Danube river town of Belene, the energy ministry said in a statement.Oman Oil also said it was ready to invest in a 700 million euro trans-Balkan oil pipeline that would carry Urals and Caspian crude from Bulgaria's Bourgas to the Greek port of Alexandroupolis.Bulgaria, Greece and Russia are due to sign a draft agreement on construction of the pipeline on February 7.The ministry did not give details on the amount of the possible investments or timelines for any of the projects.Bulgaria contracted Russia's Atomstoryexport to build a second nuclear plant at Belene as it aims to keep its position of leading power exporter in southeast Europe after the closure of two 440-megawatt units at the Kozloduy nuclear plant.The EU newcomer plans to keep a 51 per cent stake in the new plant and is seeking a strategic investor for the remaining shares.It has said it plans to seek investment from the export agencies of the chosen builders - Russia, France and Germany - and from leading investment banks, Europe's Euroatom and the European Investment Bank.