Date Target Vendor Investor Size Comment
June 14 Hotel Sheraton Sofia renovation Sheraton Sofia Sofia Hotel Balkan AD (the former Sofia Sheraton) EUR 10 mln The hotel posted revenues of EUR 8.5 mln in 2004. The main shareholders in the listed company are International Lodging of Bulgaria and European Hotel Enterprises, both Daskalantonakis Group companies (Greece).
June 14 A new golf field construction Dolna Banya complex Ibar, located near Sofia Ibar EUR 20 mln The field will be 7071 meters long; will have nearly 12 km circumference and will create 500 jobs.
June 14 Austrian VA Tech to supply power transformers to Bulgaria NETC 245 kV transformers Bulgaria's power export monopoly NETC EUR 1.7 mln The contract was signed through VA Tech T&D's Italian unit, Nuova Magrini Galileo (NMG), which won a Bulgarian tender among nine international bidders.
June 13 A JV to back acquisitions of Bulgarian cable TV and Internet providers worth between EUR 80 and 100 mln Bulgarian telecoms firm Cable Tel Cable Partners Europe EUR 100 mln Cable Tel was set up by a group of 20 US and Bulgarian investors, including Globaltech Bulgaria, a subsidiary of the US GLOBAL Communication Technologies, in 2003 and holds around 11% of the Bulgarian cable TV market.
June 13 40 km railway stretch to be built by Terna (Greece) Part of the European Union-defined transport corridors four and nine Government EUR 85.7 mln The whole railway construction project will be financed through a EUR 153 mln grant from the European Union's ISPA pre-accession programme, a EUR 150 mln loan from the European Investment Bank and EUR 37 mln from the Bulgarian state budget.
June 13 25 electric trains to be suppled and maintained by Siemens Group Bulgarian state railways operator BDZ Government EUR 117 mln The order followed a EUR 67 mln contract signed between Siemens and BDZ in January for the supply of 25 Desiro diesel powered trains.
June 9 Takeover of 40,000 square metres of Orgachim's factory Bulgarian Orgachim pigment producer Spanish Nubiola EUR 1.5 mln Nubiola has five plants in Spain, Romania, Columbia, the United States and India. It sells its production in more than 40 countries worldwide. Nubiola will sell the production from Bulgaria mainly abroad, our long-term strategy for the factory is to cover most of Nubiola's European market within three to five years.
June 9 Southeast Europe expansion strategy Bulgaria Porsche Holding EUR 15 mln It is expected that in the next few years 60,000 new cars will be sold annually in Bulgaria.
June 8 30-year operating concession Lesport freight terminal at the Black Sea port of Varna BM Port EUR 10.3 mln BM Port will invest at least EUR 50 mln in the port in the first decade of the concession deal and at least EUR 64.5 mln over its lifetime.
June 8 Credit State-owned water utility in Black Sea city of Burgas The European Bank for Reconstruction and Development (EBRD) EUR 11 mln
June 8 Tiles factory Vetovo Municipality Spanish Keros Ceramica EUR 12-20 mln Up to 300 people can be employed in the factory and another several hundred in satellite activities. The plant will be equipped with an Italian line for faience tiles and granitogres with a daily capacity of 9,000 sq m using kaolin from the nearby deposit.
June 8 Expansion plans in Bulgaria and Ukraine Uncle Stathis Bulgaria Greek General Foodstuffs-Barba Stathis EUR 11 mln
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
June 15 Launch of joint MA ICT related programs: New Bulgarian University and La Salle (Spain) Bulgarian Institute for Managemetn and Technology (BIMT) BIMT was established to support modern ICT education in Bulgaria
June 14 22% increase in Bulgaria's electricity exports expected in 2005 National Electricity-Transmission Company (NETC) Exports go to neighbouring Greece, Romania and Serbia and Montenegro; this year, Bulgaria has also supplied Germany with electricity for the first time; negotiations are continuing with Turkey to resume electricity exports from Bulgaria.
June 14 Bulgaria sees first 2005 deflation Bulgaria's National Statistics Institute (NSI) For the first time in 2005 Bulgaria recorded a deflation of 0.5% in May
June 14 Foreign Investments reach 10% of Bulgaria's GDP Deloitte&Tousche report on FDI The percentage is the highest one among countries in Central and Eastern Europe
June 13 Bulgarian Overgas gets 35-year gas supply licence for Black Sea Port Burgas Overgas (Bulgaria) The company plans to invest EUR 10 mln to build a 197 kilometre gas network in the city through 2010
June 13 Bulgaria to auction gas-fired heating utility in Pravets Privatisation Agency Expected amount for the unit: at least EUR 128,000
June 13 30 Mercedes jeeps were sold at a price of between EUR 60-80,000 each Sofia's Auto Salon 2005 A total of 100 luxurious automobiles were sold for one day alone
June 10 Balchik municipal wastewater project draws five bids Environment Ministry Bids vary from EUR 3.5 to EUR 6.5 mln
June 10 A Bulgarian heating utility upgrade project launched for the city of Pernik The European Bank for Reconstruction and Development (EBRD) The European Commission set up the Kozloduy International Decommissioning Support Fund in November 1999 to compensate Bulgaria for the closing of units one to four of its Kozloduy nuclear power plant.
June 9 Bulgaria scraps import duty on equipment for nuclear power plants Government Bulgaria, preparing to build a second nuclear power plant, will scrap a 35% customs duty levied on imports of related equipment for six months starting July 1 to cut the costs of maintaining its Kozloduy nuclear power plant.
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

Government support to a high-tech park in Varna, Bulgaria

The government granted the use of adjacent land plots in the Black Sea Coast city of Varna at to the local high-tech business incubator for a period of 10 years.

Project: high-tech park and high-tech business incubator to foster the development of the high-tech operations of small and medium-sized start-ups

Size: built-up area: 770 sq m, all-out area: 3168 sq m, usable area: 2078 sq m

Members of the Association to develop the project: 23 (including all universities in Varna and the Varna municipality)

Priority areas to develop:
- Information and telecommunication technologies
- Technologies for environmental protection and sustainable resources (incl. alternative energy)
- Advanced marine technologies
- Medical and pharmaceutical technologies

HTBI-Varna launched its first campaign for admission of companies and physical persons through:
- own projects;
- projects offered by the Incubator
Showcase of important issues, deals, and events.
With the contribution of Rivas
June 15, 2005