European Bank for Reconstruction and Development envisages to invest in Bulgaria by EUR 500 million over the next three years. The major priorities for the bank are the infrastructure, including the energy sector, financial sector, the privatization of DSK Bank and the private sector. EBRD intends to take part in the preparation for privatization of DSK Bank acquring between 10 and 20 per cent of its capital. The bank also intends to invest between USD 100 million and USD 150 million in the projects Maritza-iztok 1 and Maritza-iztok 3. EUR 30 million will be invested in the reconstruction and restructure of Toplofikatzia - Sofia.
Source: Black sea (18.01.2002)

Toplofikatzia - Sofia is about to be declared in insolvency. This was announced by the Deputy Mayor of Sofia Mr. Ivan Gechev. The price of the thermal energy at the moment covers only 45-48 per cent from the expenses of the company, explained Mr. Gechev. If the prices increase with 52-55 per cent many people will cancel the central heating. That's why there will be searched opportunities of foreign subsidy. The Czech company Horizon offers USD 200 million investments for construction of combined station for manufacture of thermal energy and electricity.
Source: Standart (14.02.2002)

A loan of EUR 30 million in two EUR 15 million tranches from European Bank for Reconstruction and Development will be required by the central heating utility Sofia Toplofikacia JSC. This was stated by the Mayor Mr. Stefan Sofiyanski. He said that the loan should have a 5 year grace period and be paid off by 20 EUR 1.5 million installments. The Municipal Council will also vote for a financial relief extended by the EBRD to the Sofia Municipality. EBRD and the World Bank are expected to extend EUR 26 million and EUR 30 million respectively for an international fund on closing reactors at the Kozlodui NPP. This was announced by the Deputy Mayor Mr. Ivan Getchev. Government guarantees will be asked for the EBRD credit, he added.
Source: Pari (15.04.2002)

Sofiiski imoti, Toplofikatzia, Egida, Municipal bank won't be privatized by the end of the year. They are in the veto list for municipal privatization. The municipal advisors accepted at a session a new rule for the activity of Sofia municipal privatization agency. At the next meeting will be selected the Directors of the new structures.
Source: Monitor (21.05.2002)

After the rehabilitation of Toplofikatzia Sofia the expenditures of the company will be with EUR 19-20 million less annually, announced the Mayor Mr. Stefan Sofianski at a press-conference in the Ministry of Energy. The money that are saved will give the company pay its loan from the European Bank for Reconstruction and Development. The project includes the exchange of 60 km pipelines and the installation of 6 000 stations.
Source: BTA (22.05.2002)

Representatives of the Ministry of Finance and the Ministry of Energetics will be included in the management of Toplofikatzia-Sofia after the reforms in the structure of the management are finalized, announced the Mayor Mr. Sofianski. The reforms are one of the terms for the company to receive a State guarantee for its credit in amount of EUR 30 million from the European Bank for Reconstruction and Development. The money from the loan will be returned in a term of ten years.
Source: Dnevnik (22.05.2002)

The American company Horizon will invest USD 180 million in TPS - Sofia if their project for Toplofikatzia - Sofia is approved. The investments are for construction of capacities for combined production of electric and thermal energy at the platforms of TPS Sofia and TPS-iztok.
Source: Standart (23.05.2002)

Toplofikatzia Sofia will have a new management. At a session of the Municipal Council will be approved the change of the system of management of the company from two-step into one-step system. The Council of Ministers will elect a new Board of Directors.
Source: Pari (13.06.2002)

The Ministers decided Bulgaria to guarantee the loan of EUR 30 million from the European Bank for Reconstruction and Development for renew of Toplofikatzia-Sofia. The Government offers to the Parliament to give its agreement for implement of negotiations and conclusion an agreement with the bank. The loan is part of a project for EUR 120.6 million for rehabilitation and renew of the heating-transfer network.
Source: Dnevnik (21.06.2002)

The debts of the central heating utility companies to Bulgargas SPJSC by this moment are in amount of BGN 151 million. About BGN 120 from them is the debts of Toplofikacia Sofia, announced the Executive Director of Bulgargas Mr. Kiril Gegov after the meeting f the Parliament Energetics Commission. The chemical companies and the central heating utility companies are the biggest debtors of Bulgargas, but they also are the greatest consumers of natural gas. According to the representative Mr. Hristo Kazandjiev of the Ministry of Energy and Energetic resource if the differentiated prices for the natural gas for them are imposed the effect will be minimal because the work of the biggest companies is not stabile.
Source: BTA (25.07.2002)

The agreement for the rescheduling of the debts of Toplofikacia - Sofia to Bulgargas will be concluded very soon, announced Mr.George Rogachev. The debts of the Sofia-based company have been reduced with about BGN 114 million. The unpaid bills for central heat-supply and hot water of the public subscribers and companies are about BGN 75 million. The hot water-supply of several public buildings with large debts have been already ceased.
Source: Standart (15.08.2002)

The Ministry of Energetics and Energy Resources addressed ten companies, which should develop a strategy for information campaign, connected with the heat accounting. An official invitation was sent to the advertising agencies Kres, Euro RSCG New Europe, McCann-Erickson, Publicis/MARC Advertising, Dean, and to the PR companies MZ Communications, L.E.A. Consult, D&D and Paradigma, as well as to the social agencies BBSS Gallup International.
Source: Capital (26.08.2002)

The big consumers of power electricity, which will be able to freely negotiate with the production stations for electricity deliveries as of next year, started making their applications for issuing of licenses to do that in the State Energy Regulation Commission (SERC). According to the energy strategy, 18.9 per cent of the sales of power electricity will be freely negotiated as of the beginning of next year. This will put the beginning of the first stage from the liberalization of the power electricity market. The consumers with annual consumption of at least 100 million kWh a year will have access to the market. These are in fact 15 companies, clients of NEC. Besides the chemical factories and mine-producing complexes, such access will be given to Lukoil Neftochim Burgas JSC, Stomana Industry JSC, KCM JSC, Asarel Medet JSC, Devnya Cement JSC, Kremikovtzi JSC, Union Miniere Pirdop Med JSC, Bulgarian State Railways (BDZ), Toplofikatzia - Sofia JSC, Elatzite Med SP JSC and OCK JSC, in case they meet the requirements.
Source: Capital (16.09.2002)

The Business lady of 2002 Mrs. Mariyan Pecheyan initiated a case against Toplofikatzia - Sofia SPJSC after the finalizing of the public procurement for the manufacture of working clothes. The motif for the court case is that Toplofikatzia - Sofia SPJSC has elected for executor of the procurement a company which has offered twice higher price.
Source: Dnevnik (04.11.2002)

Bulgargas will gain one third of the Sofia-based Toplofikatzia. This is the last offer the Ministry of Finances, in order to be cleared the debts of the company for fuel, which are in amount of BGN 140 million
Source: Standart (08.11.2002)

Eva Commerce produces high quality production and offers price, which are economically grounded, announced the owner of the company Mrs. Evgenia Panaiotova. The company has a quality certificate for the fabrics from the company producer - Strumatex - Blagoevgrad. Clients of the company for working clothes are Balkanpharma, OMV, Umicor Med.
Source: Pari (11.11.2002)

European Bank for Reconstruction and Development invested over EUR 133 million in Bulgaria in 2002. This has so far been the biggest amount of investments for this year, was reported from the office of the bank before the visit of its Chairman Mr. Jan Lumier in Bulgaria. Among the financed projects are loan for EUR 30 million for Toplofikatzia-Sofia, EUR 35 million for the transport of Sofia and EUR 41 million for stimulation of a project for electricity transfer system.
Source: Novinar (12.11.2002)

The team of the World bank that will discuss the conditions for granting of the first tranche on the loan PAL, will arrive by the end of the week, announced its Vice President Mr. Johanes Lin after the meeting with the President Mr. George Parvanov. It is expected Bulgaria to get USD 150 million in support of the payment balance and for stimulation of the structure reforms. World bank expects for Bulgaria totally 3 loans for restructure activities in the amount of USD 450 million. However one of the conditions in order to start the programme is to be finalized the deals for Bulgartabac and BTC.
Source: Sega (19.11.2002)

A private operator will manage Toplofikatzia - Sofia for the next 10-15 years. The main obligations of the future partner will be to improve the management of Toplofikatzia, the level of the offered service and the exploitation of the equipments and also to attract investments for the whole rehabilitation of the capacities. The selection of manager will be made through an international competition and has to finish by June, 2003.
Source: Capital (09.12.2002)