Банкеръ Weekly

Briefs

GERMANY INTERESTED IN BULGARIAN ENERGY SECTOR

The Bulgarian energy sector is a priority target for the German business, participants in the ceremony for the establishment of the Bulgarian-German Chamber of Commerce and Industry announced on March 9. Bulgaria's Minister of Economy Lidiya Shouleva and her German counterpart Wolfgang Clement were among the guests who attended the ceremony.One of the strongest economic countries in the European Union considers Bulgaria a centre of the energy branch on the Balkans and has concrete interests in the development of this sector in Bulgaria. Siemens which is part of the Framatom consortium is taking part in the modernization of the Kozlodoui N-plant's units 5 and 6. The German E.O.N. company is among the five applicants willing to acquire Bulgarian electricity distribution companies. Another giant, RWE, established a joint venture with the Maritsa-Iztok mines in 2000, even though its project has not made progress so far. A know-how agreement has been signed by the German Ruhrgas company and the Bulgarian Bulgargas. Bulgarian companies will be able to profit by the German experience in the field of alternative energy sources. During his visit to Bulgaria, Mr. Wolfgang Klement was accompanied by representatives of 30 German firms. The opening of joint chambers of industry and commerce is part of the Federal Government's strategy to encourage Germany's bilateral foreign economic relations. Chambers of this type have already been established in Greece, Turkey, Poland, the Czech Republic, Hungary, and Romania.

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