The Minister of Economy Mr. Petar Zhotev signed a contract for sale of 71.8 per cent of Nitex - 50 JSC - Sofia. The price is USD 135.000. Buyer is Bulser JSC. Except for the negotiated price, Bulser JSC has to settle debts of Nitex - 50 JSC of USD 500.000 and BGN 5.296 within a month. Bulser JSC also has to pay the debt to Toplofikatzia - Sofia SPLtd. In the next 3 years the buyer will make investments of USD 2.135.000.
Source: BTA (21.01.2000)

Toplofikatzia Sofia owes to Bulgargas BGN 41 850 million, Toplofikatzia Sliven owes to Cherno more mine BGN 1.363 million and to Bulgargas - BGN 309 000.
Source: Capital (08.03.2000)

The Czech investment fund Newton bought 80 per cent from the pension insurance company Sila JSC. The price of the deal was not announced because there was not an agreement of the former major owner Neftochim invest JSC. The deal includes a raise of the capital to DEM 3 million in accordance with the law. Newton-Sila intends to submit a claim for license on July 17 to the State Insurance Supervision Agency. Newton considers to buy other small pension funds and to add them to Sila.
Source: Sega (06.07.2000)

Three foreign companies wish to participate in the privatization of Toploficatsia - Sofia, was announced bythe Deputy Mayor of Sofia Mr. Ivan Gechev. After the German company RWE AG and the Czech company Newton Financial Managment Group, the British company International Water also expressed its will to buy 35 per cent of the municipal company's assets. Preliminary negotiations with the companies are still in the process, was stated by the Mr. Gechev. The procedure for the election of strategic investor will be public. According to Mr. Gechev, however, Toploficatsia will not be privatized in the next 2 years.
Source: Standart (28.08.2000)

The price of the natural gas for the consumers in the State will increase with 16.5 per cent as of November. It is expected the Government to approve the raise of the gas price. The budget will grant BGN 50 000 subsidies to the heating companies in the coming year.
Source: Standart (02.11.2000)

The company Horizon energy development is ready to invest up to USD 200 million for improvement, enlargement and renew of energy capacities in Sofia. This is a part of the investment strategy of the company for Eastern Europe. On November 15 representatives of the company and Toplofikatzia-Sofia signed a memorandum according to which the joint project has to start in the beginning of the next year. Its aim is improvement of the service with the clients, drop of the production price of the electricity and the thermal energy, installment of new capacities and prolonging the life of the thermal stations. According to specialists of the company the efficiency of the energy capacities in the capital may be considerably reconstructed through serious capital investments. Horizon energy developmen intends also to invest in training and professional development of the employees in the stations in Sofia.
Source: Pari (16.11.2000)

Another 10 companies received licenses for execution of activities in the energetic by the State Energetic Regulation Commission. The heat supplying companies in Sofia, Rousse, Jambol, Veliko Turnovo, Bourgas, Vratza, Shoumen and Microenergy - Blagoevgrad received licenses for production and transport of heating energy. The total number of the companies with licenses are 24.
Source: Sega (23.11.2000)

The concern Rolls-Royce is ready to invest between USD 35 and 55 million in Toplofikatzia-Sofia through its subsidiary company Royce Power Venture /RRPV/. Sofia municipality and RRPV have already signed a Memorandum for agreement and the business plan has to be ready by December 4. The activity of RRPV is development and installation of gas modules with an interest to a combined production of heating energy and electricity. The cooperative project will be realized with gas turbines of RRPV. The concern will cover the investments that will be between USD 35 million and USD 55 million. For repair of the capacities in the 4th heating regions of the city are necessary between USD 205 million and USD 350 million. The Czech company Horizon Energy Development that also has a memorandum with Sofia municipality promised to invest by USD 200 million for modernization of the equipments. The company is a subsidiary of the American group NATIONAL FUEL GAS SUPPLY CORPORATION.
Source: Sega (27.11.2000)