site.btaFive Companies Shortlisted for Negotations on Belene N-Plant Project

December 19 (BTA) - Russia's Rosatom, Korea Hydro &
Nuclear Power Co. Ltd. (KHNP), the China National Nuclear
Corporation (CNNC), France's Framatome and General Electric of
the US have been shortlisted for negotiations on the Belene
N-Plant project, Bulgarian Energy Minister Temenouzhka Petkova
told the National Assembly Energy Committee on Thursday.

Petkova explained that the five companies will be invited to
submit binding bids. She specified that the Russian, South
Korean and Chinese companies are bidding for strategic investors
 in the project, Framatome wishes to supply the safety systems
and finance this share of its participation, and General
Electric wishes to manufacture turbines and other equipment and
will also self-finance this part of the project.

The Energy Minister said that the five were selected on the
basis of their experience in building nuclear power plants,
their financial stability and high credit rating. "Undoubtedly,
these are companies which are among the world leaders in the
nuclear power industry," Petkova said.

Before the end of January 2020, each of these companies will be
asked to sign a confidentiality agreement, and after such an
agreement is signed, they will receive the information
memorandum on the project. The first binding bids will be ready
in early May.

Petkova said that out of a total of 13 applications submitted,
four are for acquisition of a minority stake in the future
project company. Minority stakes will be provided to potential
strategic investors so that they would be able to enter into
negotiations.

The Energy Minister said that the State will have a blocking
minority in the project and will contribute non-cash assets:
site, equipment and licences. In her words, Bulgaria will be
seeking a 30-34 per cent stake in the project. "We will be
involved in this project from beginning to end, with a
possibility to make decisions on all matters of importance for
the project throughout its service life. This has to be done
because the project is implemented in Bulgarian territory and
the nuclear risk cover applies to the territory of our country,"
 Petkova pointed out. RY/LG

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