Банкеръ Weekly

Briefs

NEW RULES FOR THE BOURGAS-ALEXANDROUPOLIS PROJECT

All requirements to the companies applying for participation in the construction of the oil pipe-line Bourgas-Alexandroupolis will be described in details by the end of January. The financial guarantees required from the companies will be precised, too. Some of them may be removed. The announcements were made at the end of the first session of the interdepartment working group on the project, appointed by the prime-minister Simeon Saxe-Coburg-Gotha.The construction of the oil pipe-line is among the priorities of the government. We'll work actively and Bulgaria will fulfil its commitments, said the deputy minister of finance, Gati Al Jeburi. Despite the disagreements, companies willing to take part in the construction works will reach an agreement on their participation, Mr. Al Jeburi added. However, he refused to comment on whether new participants would get involved in the Bulgarian part of the project. The idea was launched by the minister of regional development and welfare, Valentin Tserovski.Last November, offers were submitted by Glavbolgarstroi AD, Gazstroimontazh AD, Holikon AD, LUKoil-Bulgaria EOOD, Magnum-07 OOD, Monolit-3 OOD, Interneftigazmontazhi OOD, Chimremontstroi AD, Minstroi Holding AD. Later, these companies were followed by the Sofia-based Kontrolno-Zavaruchni Ustroistva AD. Hassan Hassan, deputy minister of regional development and welfare, proposed that the applicants share the work on the Bulgarian part of the project and establish a Bulgarian Operational Company. It would have a capital amounting to EUR500,000 and the state would hold a golden share in it. By December 2, 2002, however, the ten companies failed to sign an agreement on how they would share the work on the project. A day later, the meeting in Athens on which Bulgaria, Greece and Russia had to sign the trilateral memorandum was postponed. No further date was appointed, but on January 23 the Government authorized Minister Tserovski to sign the document.

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