Date Target Vendor Investor Size Comment
December 12 A credit line agreement Former telecom monopoly BTC Citibank EUR 350 m The 6-year loan will refinance a 285 mln euro credit line and cover capital expenses.
December 12 Gasification project in 2006 Black Sea port city of Burgas Bulgaria's leading natural gas retailer Overgas EUR 2.9 m Earlier this year, it acquired a 35-year gas distribution licence for the Black Sea city of Bourgas and plans to build a 197 kilometre-long gas network in the city through 2010.
December 12 New automotive centre Sofia Municipality Industrial Commerce,exclusive dealer of Hyundai Motor Co. for Bulgaria EUR 7.17 m The 13,350 sq m multi-purpose building will consist of office premises, showrooms and repair shops. The repair center will have a monthly capacity of 3,000 vehicles.
December 12 Purchase of a majority stake Bulgarian cardboard maker Trakia Papir Austria's Constantia Packaging EUR 40.3 m Prior to transaction, 2 offshore companies, Santa Martha Limited and Berbella Trust Reg, each owned 47.61% of Trakia Papir.
December 12 Raised investment by two thirds over original plans Chelopech gold and copper mine in Bulgaria Canada's Dundee Precious Metals USD 150 m The investment would expand the project's output to 2.0 mln tons of ore annually, versus earlier estimates of 1.5 mln.
December 7 Opening a drug plant Sofia Municipality Food, beverages, vitamins and food additives maker Kendy EUR 3 m The project was developed in co-operation with the Dutch economy ministry.
Deals, contracts, tenders and outsourcing for a total value of more than BGN 2 mln. and projects of strategic interest to Bulgaria
With the contribution of SeeNews (published by AII Data Processing Ltd) and Rivas
GOVERNMENT AND EU | REAL ESTATE AND FINANCE | EU TOPICS
Date Subject Institution Comment
December 9 EBRD to discuss a EUR 47.5 m project The European Bank for Reconstruction and Development (EBRD) The project is for financing of Bulgarian city water utility in 2006.
December 9 General Electric, Bayerische Landesbank vie for Bulgaria's Unionbank Media The twobanks are in talks to acquire a 60% stake in Unionbank, Bulgaria's 18th largest bank in terms of assets.
December 9 Sofia-based Tessa Energy will start the construction of a wind farm in the Balchik area Balchik Municipality Tessa Energy has pledged to invest over EUR 50 m in alternative energy projects in the Balchik area.
December 7 Bulgaria Calls Tender for Supervisor of Danube Bridge-2 Construction Bulgaria's Transport Ministry The draft contract can be at the maximum cost of EUR 7 m and have a term of execution up to 51 months. Danube Bridge 2 will absorb some EUR 236 m.
December 7 Bulgaria received 22 bids in its tender for picking a supervisor of the construction of the EUR 148.5 m Lyulin motorway Road Executive Agency Iberica de Estudios e Ingenieria, Louis Berger, Atkins International, Hill International and Italconsult are among the company competing for the EUR 7.5 m supervision contract.
News and events important for investors related to the Bulgarian legislation, government and EU policy, financial and real estate sectors.
With the contribution of SeeNews (published by AII Data Processing Ltd) and Rivas

U.S. company AES kicks off EUR 1.1 bn power plant project in Bulgaria

- Investor: AES (USA)
- Volume: EUR 1.1 bn
- Construction works: Alstom SA (France)
- Maritsa Iztok 1 project: construction of a 670MW lignite-fired replacement capacity on the site of the Maritsa Iztok 1 thermal power plant, in Southern Bulgaria
- Financing: agreement with Calyon, ING, BNP Paribas and EBRD; The 4 lenders have agreed to contribute 70% of the total project cost
- Timeframe: 32 months for the first unit

The company estimates that the new Bulgarian plant will bring in $300 mln in annual revenue starting with 2010.

The size of the project qualifies AES for a First Class Investor certificate which, in turn, means that the Bulgarian government undertakes to finance the construction of the necessary infrastructure.

South-eastern Europe needs about 15 bln euro to upgrade its existing power plants or build new ones, according to a World Bank study released in July and quoted by the Wall Street Journal.

Showcase of important issues, deals, and events.
With the contribution of Rivas
December 14, 2005