|
|
Bulgaria Govt Boosts Energy Holding with BGN 400 M for Anti-Crisis Measures
|
Bulgaria's cabinet decided Thursday to increase the capital of the Bulgarian Energy Holding (BEH) by BGN 400 M as a precaution against the potential effects of the global financial crisis, and in order to prepare the merger of the Sofia Heating Utility Company into the holding.
The official statement of the BEH issued Friday underscored the fact that the additional BGN 400 M transferred to its capital from the state budget would be used for anti-crisis measures.
BGN 160 M will be used to cover any losses that the Bulgarian natural gas provider Bulgargaz would suffer from the rescheduling of debts of Bulgarian businesses at the beginning of 2009.
In this way, the effects on Bulgarian businesses of the expected natural gas price increase in 2009 amidst the global financial crisis would be mitigated, the BEH statement points out.
The remaining BGN 240 M would be used to prepare the merger of the Sofia Heating Utility Company "Toplofikatsiya" into the BEH. BGN 80 M of these would be used to cover the heating company's debts to Bulgargaz.
The other BGN 160 M would be poured into Toplofikatsiya in order to increase its capital in anticipation of the merger.
However, the merger would become possible only after sanctions of Bulgaria's Competition Protection Commission and the State Agency for Energy and Water Regulation, which are expected in the coming weeks.
The Sofia Municipality recently decided to transfer all of its shares of the Sofia Heating Utility Company to the Bulgarian state in order to let the government assume responsibility for the restructuring of the troubled company, which had been shaken by scandals about public funds abuse in the recent years.
The Sofia Heating Utility Company is the largest public heating utility in Bulgaria. It produces over 1 billion kW/h of electricity per year, and has a capacity of 3 000 MW of heating, and 280 MW of electricity production.
The Bulgarian Energy Holding was created in 2008 with the merger of five state-owned companies - the National Electric Company NEK, the gas monopoly Bulgargaz, the Maritza Iztok Mines, the Maritza Iztok 2 Thermal Plant, and the Kozloduy Nuclear Power Plant into a EUR 4 B energy giant.
The Sofia Heating Utility "Toplofikatsiya" will be the sixth Bulgarian energy giant to join the holding.
In October 2008 the government increased the capital of BEH by another BGN 300 M in order to speed up the construction of the country's second nuclear power plant at Belene, which will be run by the National Electric Company NEK.
|
|
all news >>
|
 |
|
 |
Bulgarian Properties |
Cheap Properties in Bulgaria >>
|
 |
Breathtaking My Bulgarian Property RUS7633
Brief: Houses for sale near Ruse
Area: 80 sq.m.
Price: 9000 EUR
|
|
|
 |
Your mountain fairy-tale My Bulgarian Property - RUSSL001
Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 95000 EUR
|
|
|
 |
Your best holiday destination My Bulgarian Property - LH01
Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 22000 EUR
|
|
|
 |
The sea dream - land near the sea - Bulgarian Property near Cape Kaliakra - RUS195B
Brief: Land for sale near Balchik
Area: 10000 sq.m.
Price: 500000 EUR
|
|
|
 |
Feels like Heaven My Bulgarian Property - More than 35 000 sq. feet of regulated land RUS5034
Brief: Houses for sale near Ruse
Area: 90 sq.m.
Price: 9800 EUR
|
|
|
 |
Your precious home in the mountain! My Bulgarian Property UN1206
Brief: Houses for sale near Veliko Tarnovo
Area: 120 sq.m.
Price: 15300 EUR
|
|
|
 |
Big home for a big family - Bulgarian Property - RUS1406
Brief: Houses for sale near Ruse
Area: 100 sq.m.
Price: 36000 EUR
|
|
|
 |
A good fishing opportunity My Bulgarian Property RBP01
Brief: Houses for sale near Ruse
Area: 90 sq.m.
Price: 7000 EUR
|
|
|
 |
Bulgarian Property - Another astonishing offer near Srebarna preserved area - RUS1229
Brief: Houses for sale near Srebarna
Area: 80 sq.m.
Price: 26300 EUR
|
|
|
 |
Development land with amazing view - Bulgarian Properties - SLAND1582
Brief: Land for sale near Ruse
Area: 3000 sq.m.
Price: 9000 EUR
|
|
|
 |
Another rural perl near Srebarna National Reseve - VUS1206
Brief: Houses for sale near Silistra
Area: 75 sq.m.
Price: 16000 EUR
|
|
|
 |
Buy a holiday home near Veliko Turnovo - RUS1401
Brief: Houses for sale near Veliko Tarnovo
Area: 100 sq.m.
Price: 9800 EUR
|
|
|
 |
Miracles happen - RUS1257
Brief: Houses for sale near Ruse
Area: 90 sq.m.
Price: 10600 EUR
|
|
|
 |
Buy a paradisiacal scanty! - RUS1245
Brief: Houses for sale near Ruse
Area: 90 sq.m.
Price: 10900 EUR
|
|
More Properties in Bulgaria >>
|
|
|
 |
|
|
|
| PROPERTY SERVICES |
|
|
|
|
|
| MORE SERVICES |
|
|
|
