TPS - Sliven and the stations of Maritza-iztok owe about BGN 80 million to its debtors of coals - the mines Lev, Balkan-2000, Cherno more and Maritza-iztok. The thermal power stations impose on state-owned and private mines their monopolistic conditions for the quantities of the supplied coals and for their prices.
Source: Pari (15.01.2002)

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)

Maritza-iztok mines will sign in March a contract with the American company Entergy for definition of the price of coals and the quantities for extraction. Entergy will invest USD 650 million in the renew and is expected the project to start in the middle of this year. According to the Executive Director of the mine company Mr. Shterju Shterev the price of coals will be defined in accordance with the USD rate and the expenses of the stations will be the same for all consumers.
Source: Dnevnik (23.01.2002)

The new energetic strategy of the Government includes the exploitation of HPS Maritza-3, Dimitrovgrad to be prolonged up to 2015, announced the Executive Director of the hydropower station Mr. Yanko Yankov. The present plan of NEC requires the station to be closed during 2004. According to the agreement with NEC for 2001, HPS Maritza-3 has to produce 250 million kilowatt hours electricity and to realize a profit of BGN 1 million.
Source: Dnevnik (06.02.2002)

The joint-venture company between NEC and Entergy signed the contract with the major executors of the project for rehabilitation of TPS Maritza-iztok 3 - the consortium between the German companies D Dillinger Stahlbau GmbH and RWE Industrie-Losungen GmbH. However the rehabilitation will start after providing of loan of USD 470 million.
Source: Sega (07.02.2002)

RWE Reinbraun will prepare its new project for joint exploitation of the lignite deposit in Maritza-iztok within a month or two. The project does not include conservation of Troyanovo-sever mine. The Executive Director of the joint-company Mr. Eberhart Buling announced that the project plans annual extraction of 30 million tons of coals and investments in amount of DEM 5 million for the first five years.
Source: Standart (22.02.2002)

The German Consortium RVE Solutions JSC concluded a contract for the modernization of HPS Maritza-iztok 3 and for construction of equipment for purification of the sulfur oxides. The value of the contract is few millions of EUR. The reconstruction of the HPS will prolong its life with about 15 years.
Source: Standart (12.03.2002)

The Director of PA proposed at a conference for the state and the perspectives for the Bulgarian Capital market the banks to become public companies. Thus shares of the financial institutions will be traded at the stock exchange. Mr. ApostolOv explained that this is one of the ways for reviving the capital market in Bulgaria The State could assists if it offers for sale the minority shares of all privatized companies. The documentary for BTC, Navigation Maritime Bulgare, Bulgarian River Navigation, State Insurance Institute, Energoremont and Maritza-Iztok. At the moment is prepared another list of companies which will be traded at the Stock Exchange. 49 per cent of the capital of International Fair-Plovidv, Oil and Gas Exploration and Production-Pleven, Energoremont holding and HPS Maritza-Iztok 3 will be offered for sale, announced the Minister of Economy Mr. Nikolay Vasilev.
Source: Standart (01.04.2002)

Mr. Peter Baret is the new Executive Director of the project of the American company AES for construction of new capacities in TPS Maritza iztok 1 at the amount of USD 850 million. Mr. Baret worked on huge projects in GB, USA, Asia, Southern America and Hongkong. Meanwhile became known that AES has selected for its consulting agency MMD that is among the biggest consultants in the field of communications in Central Europe.
Source: Monitor (01.04.2002)

Maritza - iztok mines have another 10 years life when was found the opportunity of extraction between the mines Troyanovo 1 and Troyanovo 2. There are 180 million tons coals. There are enough coals in Maritza iztok mines. The problem is in the low pressure of the stations. BGN 15 million is the profit of the company for the quarter.
Source: Standart (08.05.2002)

Mr. Kuncho Filipov is the new Executive Director of Brikel SP JSC, was reported from the company. He has been working in the system of energetics for 25 years now. So far he has been Director of Marketing and sales department in Brikel SP JSC.
Source: BTA (09.05.2002)

TPS Maritza Iztok 3 SPJSC - Dimitrovgrad has realized than BGN 5 million for the first five months of the year. The thermal power station has paid for taxes and social insurances for this period more than BGN 3 500 000. In the beginning of 2000 there was plan for the closing of the station as old and non-profitable. The economic revival of the company started since it was separated from NEC. During 2001 the company has produced 302 million kilowatt-hours electricity.
Source: BTA (20.06.2002)

The average remuneration of the staff in TPS Maritsa-Iztok 3 should be BGN 600. The syndicates insist on this at the negotiations it started with the investors from Entergy, announced the Deputy Director of the National Federation of Power Engineers in Bulgaria - Mr. Hristo Dyakov. The average working salary in TPS Maritsa-Iztok is currently BGN 459. Negotiations for the necessary contraction of the staff are also in process. For the current moment, the expect dismissals are about 40 per cent for a period of 4 years.
Source: Standart (20.06.2002)

The French banks Societe Generale and Kredi Agrikol, the European Bank for Reconstruction and Development and the Solun-based Black Sea Bank for Trade and Development will finance the American company Entergy for the rehabilitation of TPS Maritza Iztok 3, announced the Procurator of NEC Mrs. Lili Ivanova after a meeting with representatives of the bank. On Wednesday the European Bank for Reconstruction and Development announced that it intends to participate with a loan in amount of EUR 123 million. According to the European Bank the trade banks will finance the project with totally EUR 215 million.
Source: Dnevnik (21.06.2002)

At an opened Meeting of the State Energetic Regulation Commission announced its decision to give its permission to AES - 3S Maritza Iztok for the constructions of Thermal-power station, was Mr. Yani Uzunv from the press-centre of the Commission. The permission will become efficient when the company presents proofs that it has finalized the financing of the project and that it has law of estate over the land, on which will be built the station
Source: BTA (08.07.2002)

European Bank for reconstruction and development voted a credit in amount of EUR 112.100 million to Entergy for rehabilitation of HPS Maritza-iztok 3. The contract with the American company Entergy envisages investments of USD 470 million for rehabilitation and modernization of the TPS that will prolong the life of the station with 15 years. On February 6 the American company received from the State Energy Regulation Agency a 20-year license for manufacture of electricity.
Source: Black sea (24.07.2002)

The Board of Directors of the European Bank for Reconstruction and Development approved a loan in amount of EUR 112.1 million for the project of the American company Entergy for the rehabilitation of TPS Maritza Iztok 3, was reported from bank. Galabovo Municipality gave a permission for construction of the project. From the Ministry of Energetics and Energetic Resources reminded that AES company have to provide the finances for the construction of two new capacities in TPS Maritza iztok 1 by Auust 15.
Source: Dnevnik (26.07.2002)

Bulgarian banks are ready to finance the construction of new capacities in TPS Maritza Iztok 3. The new capacities will be built on the project of the American company Entergy, announced the Minister of Energetics Mr. Milko Kovachev. The value of the project for modernization of TPS Maritza Iztok 3 is USD 450 million. Two weeks ago the European Bank for Reconstruction and Development granted EUR 112.1 million for the financing of the project. The negotiations with the French Societe Generale and Black Sea Bank for the granting of another EUR 80 million for the project are in a process of finalizing. It is expected that the Bulgarian banks will provide USD 20 million for the financing of the project.
Source: Monitor (05.08.2002)

The German concern RVE Reinbraun has applied at the Ministry of Energetics a new conception for the exploitation and development of the mines Mariza-Iztok, announced the Director of the company for Eastern Europe Mr. Eberhard Buling. The new project excludes the closing of Troaynovo-Sever mine and the reducing of the personnel These were the two obstacles for the establishment of a Bulgarian-German company. The new proposal has already been at the Ministry for more than a month. The future of Maritza-Iztok includes not only the mines but the power stations, which soon will be working in the conditions of an open market, explained the postponement Minister Milko Kovachev.
Source: Standart (20.08.2002)

The biggest bank in Bulgaria - Bulbank, is ready to grant a loan of EUR 40 million to the American company Entergy for its project for the modernization of HPS Maritza Iztok 3, announced a source close to the Ministry of Energetics. The loan will be for a term of 10 years. In the beginning of 2002, the State Commission of Energy Regulation issued a license to Entergy, and one of the conditions is to finish the financial package on the project by the end of the year. It is to the value of USD 470 million.
Source: Dnevnik (02.09.2002)

The American company Entergy that will renew TPS Maritza iztok 3 has to finish the financial scheme on the project by the end of September. The amount of the project is EUR 470 million from which 75 per cent are from credits and the rest are own funds of Entergy. According to the Minister of Economy Mr. Nikolai Vassilev this year Bulgaria has a serious chance to attain the record direct foreign investments of USD 1 million.
Source: Dnevnik (13.09.2002)

AES is searching for partners for the its share of the financing of the new capacities in TPS Maritza Iztok 1 and Entergy - for the modernization of TPS Maritza Iztok 3, announced the Minister of energy Mr. Milko Kovachev. The American companies are trying to lower the risk in the execution of the two biggest energetic projects in Bulgaria. The value of the projects is USD 1.5 billion. Both companies will participate with 25 per cent own finances and 75 - attracted capital.
Source: Dnevnik (09.10.2002)

The shares of Energoremont holding have already been registered in the Central Depository on October 23 and is the first step to the declaration of the holding for a public company and in this way its shares will be sold on Bulgarian Stock Exchange - Sofia. The papers of the holding are totally 349 340 with a face value BGN 1 per each. From them 49 per cent or 171 177 will be offered at the auctions on the stock exchange for sale against Compesatory Vouchers. Probably the papers of Energoremont holding will be combined in a separate privatization pool together with minority stakes of three its subsidiaries - in Russe, Varna and Bobov dol.
Source: Dnevnik (31.10.2002)

It is expected that until the end of this year Enetergy will choose a partner for the project for rehabilitation and modernisation of the TEPS “Maritza-East 3”. The cost of the project is about USD 470 mln. For its implementation a contract was signed in June 2001 between Entergy and NEC. “Maritza-East 3” is 51 % owned by Entergy, the other 49% - by NEC.
Source: Dnevnik (11.11.2002)

PA announced an auction for the election of an investment intermediary for the second pull, which includes 49 per cent of Energoremont-holding, its subsidiary companies in Russe, Bobov Dol and Varna and HPS Maritza - 3, 30 per cent of the capital of Bulgarian River Navigation and 25 per cent of the capital of Sofia-film. The state stakes of the capital of these companies will be traded at the Stock Exchange for restitution bonds. According to the experts from the Agency the listing of the shares on the Stock Exchange may be postponed for the next year because the energy companies and Bulgarian River Navigation are not registered as public yet and could not be traded at the Stock Exchange.
Source: Monitor (20.11.2002)

“Rainbrown” negotiates with Entergy for participation in the project for modernization of TEPS “Maritsa East – 3”.
Source: BTA (21.11.2002)

PA will prolong up to December 9 the deadline for applying offers for investment intermediary for the shares from Energetika pull, announced the Executive Director of the Agency Mr. Apostol Apostolov. The prolongation of the deadline with two work-days is made by the request of the applicants. The pull includes minority stakes from Energoremont holding and three of its subsidiary companies, as well as Maritza Iztok 3 - Dimitrovgrad, Bulgarian River Navigation and Sofia Film.
Source: Dnevnik (03.12.2002)

The difficulties connected with the transform of the big Bulgarian companies in public companies are on their way to stop with a legislative method. Three MPs from the National Movement Simeon II submitted a new amendment in the Privatization Act and according to it all companies which will be privatized through sale on the stock exchange, will be made automatically public. The text will concern mainly companies with 100 per cent state-owned property that are not still public. These are Bulgarian River Navigation, Energoremont holding and its subsidiaries companies in Russe, Varna and Bobov dol and TPS Maritza 3 - Dimitrovgrad.
Source: Dnevnik (11.12.2002)