Some doubts about a yellow "cousin " scheme, similar to those used in the privatization by the "Kostov" Cabinet, are about to blow up one of the biggest scandals in Bulgarian Sea capital. It is about the Shipyards – one of the most sensitive topics for the Varna population. It should have become the most perfect scheme of the National Movement Simeon the Second (NDSV) about saving an enterprise and its transparent privatization. Varna MPs from NDSV showed strong interest in everything that happens with the Shipyard and its new owner - Navigation Maritime Bulgare (NMB). It is most likely that namely the interest in these enterprises to be one of the reasons for the problems between the Varna MPs and the Transport minister Plamen Petrov. They attack the activities of Petrov and even threaten to impeach him. Besides the Shipyard and NMB the interest of the yellow deputies circle includes a few more big Varna-based companies like Water Supply and Sewerage-Varna, Thermal Power Plant Varna, Port Varna, Electricity Supply, Heat Supply and so on. The main dealers in the scheme are the leader of the Varna group in NDSV – Borislav Ralchev, and his colleagues – Stefan Minkov and Nasko Rafailov. Minkov seems to be most involved in the Shipyard scheme, as his contacts go on two main lines: relatives and classmates from the Varna Navy School. The relative connection starts with the company Stsikoteh – the major sheet iron supplier for the Varna Shipyard. The owner of the company is Ivan Bodev – relative of Minkov. The auditor report of the Varna Shipyard shows serious breaches of this company. Ivan Bodev and Stefan Minkov are bonded through the Hungarian company “Jayden United Corp." as well, the representative of which is Stsikoteh. Jayden United Corp is also represented by Borislav Ivanov Bodev – the son of Ivan Bodev and son-in-law of Stefan Minkov. The interests of the Stefan Minkov circle are found in NMB as well, and particularly in the new appointments in company’s higher management, by classmates for the Navy School. It is about the General Director of NMB captain Geno Genov, one of the NDSV founders in Varna, also the member of the Board of Directors Stefan Buzev, the exploitation director captain Atanas Atanasiv, the brother of captain Genov – Todor Genov – head of the New Ships department, ship supply head Zhivko Nikov, the administrative director Georgi Stoikov and so on. Buzev and Minkov are also former co-workers in the private company Gora JSC. Captain Geno Genov has been sentenced to reimburse the overdrawn currency of about USD 12,000 for “military risk”, when he was the NMB’s representative in Alexandria, Egypt. His brother Todor Genov also occupies a higher position in NMB, working in the Navy development department. The third brother – Vesselin, is the owner of the company Varna Shipping&Trading, dealing in ship hiring and brokerage. The fourth brother Emil is the representative of the SGS control in Varna – the service that forms the cargo claims including the cargoes brokeraged or hired by Vesselin Genov. Recently captain Genov signed with Hamburgische Landesbank on behalf of NMB a credit agreement for USD 23.1 mln. The credit is asked, according to the management, for the faster delivery of the Trapezitsa and Doly ships. Captain Geno Genov: We don’t work with my brother’s company that much - Captain Genov, is it true that NMB works with the companies of your three brothers? What percent of the brokerage services is done by Vesselin Genov and his company "Varna Shipping and Trading "? - No, this is not true, since only one of my brothers has a company. The others are workers in other companies. Concerning the percent of the brokerage services done by "Varna Shipping and Trading", the volume of the shippings made with the mediation of this company, has been dropped in 2002 by 8,5% compared to the previous years, when captain Geno Genov has not been General Director of Navigation Maritime Bulgare.
Source: 24 chasa (17.03.2003)

Mr. Yasen Penchev, BSP leader in Dobrich, suggested a project for alternative water supply of Dobrudzha from the artificial lake system Tzonevo-Devnya. The project includes construction of a 60-km long water-main, connecting the lakes, located in the region of Varna and Dobrich. The planned investment is BGN 20 million, and the project is due to be executed within a period of 2 years.
Source: Pari (23.07.2003)

The privatization of Water Supply and Sewerage (ViK) – Varna and Water Supply and Sewerage (ViK) – Shumen may not necessarily be done through concession, stated the Minister of Regional Development and Public Works Mr. Valentin Tzerovski. According to him, currently, the variant of applying the scheme for management contract is actively discussed. The idea is to entrust the company’s rehabilitation to expert manager teams. The idea of concession is still an option, however, added Mr. Tzerovski.
Source: BTA (13.08.2003)

Electricity Distribution Company Varna is at the first place in this year countdown of the 100 companies of Varna 2002. The countdown was prepared by Apea plan and Aktiv Ltd. The criteria, on which were evaluated the companies are financial results, incomes, efficiency, investments and payments to the National Social Security Institute.
Source: Pari (29.08.2003)

The European Commission in Brussels approved 5 new projects on ISPA programme. Their total amount is EUR 118 765 388, was reported from the Ministry of Finance. The euro programme provides about EUR 89 million. The rest will be co-financing from Bulgaria. On four of the projects will be improved the water supply in Varna, Smolyan, Shumen and Balchik. EUR 17,143 million are expected to be invested in the regional centre for wastes processing in Kurzhali.
Source: Sega (11.11.2003)