US COMPANY WANTS TO INVEST IN THE BOURGAS VLORE PIPELINE
A major US company is ready to invest in the construction of the Bourgas-Vlore oil pipeline, it transpired after a meeting this week between Bulgarian Economy Minister Peter Jotev and Edward Ferguson, chief executive director and president of AMBO Corp.
The project and the financial analysis of the facility were presented at the meeting. Ferguson said that pipeline could be constructed within 3 years and added that the Bulgarian side stands to receive 70 million dollars annually in port charges. The pipeline will meet rising demands for the transportation of oil in the region, said Rumen Nikolov, AMBO Corp. representative for Bulgaria. The 900 km facility, which will have an annual capacity of 35 million tonnes, will cost 1,13 billion dollars to construct.