site.btaBulgaria Negotiates with Chinese Investor on Funding for Construction of Units 7, 8 of Kozloduy N-plant

Bulgaria Negotiates with Chinese Investor on Funding for Construction  of Units 7, 8 of Kozloduy N-plant

Beijing, October 25 (BTA Special Correspondent Genka Ivanova) - Bulgarian Prime Minister Boyko Borissov said here on Wednesday that he and Prime Minister Tomislav Donchev are trying to attract a big Chinese investor for the construction of Unit 7 and, later on, of Unit 8 at the Kozloduy nuclear power plant. "We are talking about a financial investor in a future construction because we all know that in 10 to 15 years we have to continue having reactors at Kozloduy, but this requires money," Borissov told the Bulgarian community in Beijing.

The Bulgarian PM met with representatives of the Bulgarian community in China within his visit to the Asian country from November 22 to 27. The meeting took place at the Bulgarian Embassy in Beijing.

According to Borissov, having reactors in 15 years requires talks on this topic as of now and preparation of a financial and economic rationale.

Taking a question, he said that Westinghouse works very well with the Chinese company with which he and Donchev held talks on Wednesday.

In Borissov's words, he held talks with Westinghouse on Friday after the documents on a Unit 7 at the Kozloduy N-plant were not signed. "We said several things which we have to achieve before we can return to the negotiating table: to find a financial investor who can participate in the construction, and afterwards the State should have the option to buy shares once it starts producing electricity," he noted. He also said that Westinghouse had recommended the making of a proposal to a Chinese company to fund 49 per cent of Unit 7. "The second condition is that we hold preliminary talks on export, based on analyses of how much electricity will be needed for domestic consumption and whether we will export," Borissov noted. He added that by using the capacity and contacts of big companies, Bulgaria can sign preliminary contracts on electricity export with its neighbouring countries.

"Now we are ticking off the tasks and once we fulfil them, I will come out and tell you: we have conditions to sign. At the moment I am just informing you that at these meetings we are agreeing on strategic plans for the next years," Borissov noted.

Commenting on the conflict between Turkey and Russia, the Prime Minister said that the less Bulgaria is showing bellicosity and making extreme statements on this topic, the better it will be for the country's stability. In his words, Bulgarian diplomats and the Foreign Minister should be given the opportunity to "keep us away from this conflict because Russia and Turkey are always in conflict but they always make their biggest projects together, while we, as long as we are constantly swaying, will only bring upon ourselves the anger of either the one or the other."

On Thursday, Borissov is scheduled to meet with China's Premier Li Keqiang and President Xi Jinping. Also on the programme is the signing of an agreement in the sphere of education.