Банкеръ Weekly

Briefs

A NEW COMPANY TO SOLVE SOFIA WATER SUPPLY PROBLEMS

Sofia Municipality and International Water Consortium set up the company Sofia Water JSC. It will manage, operate and maintain Sofia water supply.


During the next 25 years the new company plans to invest USD150MN in the maintenance of the water supply. During the first five year period of the concession, water losses in the pipeline should be cut by 50% and by the end of the total period they should be reduced to 12%.


The fulfilment of Sofia Water investment schedule started at the beginning of October with the reconstruction of the pipeline in Nadejda region in Sofia.


According to the contract, water price in the first three years of the concession will not be increased, unless in cases of force majeure and high inflation rate. At the moment the price for civil needs is BGL0,435/cubic meter without VAT. For public sector prices vary according to impurities content in waste water.

Bob Gallian from International Water announcing Sofia Water plans at the press-conference

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