Банкеръ Weekly



A confidential meeting between representatives of the Chimco fertilizer producer and the Russian Gazprom company was held in Vratsa on April 26. The Russian experts are now examining the plant and in case they find its condition satisfactory, the sale of the enterprise may be initiated.By the end of 2006, the Canadian Dundee Precious Metals Inc. is going to invest USD150MN in the extraction of copper and gold from fields near Tchelopetch and Ada Tepe. The Canadians hold the majority stake in the capital of Tchelopetch Mining, the company which has signed a concession agreement for extraction of ores and minerals near Tchelopetch.The Plovdiv-based Hemus Group has invested BGN2MN in the construction of a workshop producing fruit and vegetable mash in Pazardzhik. The unit will start operations in July.Serdika Tourist EOOD acquired in a tender a holiday resthome in Kranevo which is an independent part of the Sofia-based Vodno Stopanstvo company. The purchase price of BGN370,000 is three times higher than the initially asked amount. The Varna-based Sea Group, occupied with intermediation and representation activities, won a tender for an independent part of the Vointech company. The winner offered BGN12,300 which was almost four times above the initial price. Balkancar Holding's trustee in bankruptcy Boyana Karaivanova is selling a company of the holding in Moscow. Offers for Balkancar-MS will be accepted until May 21. The initial price at which negotiations will start is USD6,400. Lukoil Neftochim ended the first quarter of 2004 at a profit of BGN1.24MN, down from the BGN13.2MN profit for the same period a year earlier. The refinery sales revenues reached BGN82.4MN.The first-quarter profit of the Dimitrovgrad-based Neochim company amounts to BGN4.73MN. A year earlier, Neochim posted a profit of BGN2.93MN. Sales revenues are up, too, and reach BGN57MN.

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