Maritza-Iztok Mines JSC ended the last year with a profit in the amount of BGN 25 million, the company’s Executive Director Mr. Petko Petkov reported. The mines extracted 22 million tons of coals in 2000, which is by 2 million tons more than the extraction in 1999. Maritza-Iztok Mines JSC does not plan to dismiss any employees this year.
Source: Standart (05.01.2001)

The German concern Rainbrown will buy 75 per cent from the shares of Maritza-iztok mines, declared the Chief Secretary of the State Energetics Agency Mr. Alexander Petrov. The negotiations with the German concern will finish by April. In May, 2000 the Director of the State Energetics Agency Mr. Ivan Shiliashki and the Director of the international projects in Rainbrown Mr. Ulrih Jobs reached an agreement in which is said that the foreign company would take the extraction and trade with coals and to invest DEM 600 million in the development of the complex during the next 20 years. Most probably Rainbrown will also buy TPS Maritza-iztok 2. According to preliminary data the company will invest DEM 380 million in the modernization of Maritza-iztok mines.
Source: Standart (15.02.2001)

The General Meeting of Mine company Maritza-iztok JSC decided to increase the capital of the company, was reported from State Energetics and Energy Resources Agency. The capital of the company is increasing from BGN 50 100 to BGN 900 300 by issuing of new 8 502 shares with face value BGN 100 that may be acquired by the shareholders proportionally to their present participation - 2/3 for Raignbraun AG and 1/3 - Maritza Iztok SP JSC. The Agency specified that the increase was connected with the preparation of the procedure for receiving of concession for extraction of coals. The joint-ventured company was established in June 2000. The initial investments in the mine are DEM 220 million.
Source: BTA (07.03.2001)

The General Meeting of the Shareholders of mine-company Maritza Iztok decided the capital of the company to be raised. The joint-company established between the mines Maritza Iztok JSC and Rainbaum was with capital of BGN 50100. It is planed that the capital to become BGN 900 300. At the stock exchange will be released a new issue of 8502 shares with face value of BGN 100. They will be gained by the shareholders in accordance with their present participation. The raise of the capital is due to the procedure for concession for extracting of coals.
Source: BTA (16.03.2001)

The capital of the mine company Maritza iztok will be increased, according to decision of the General Meeting of the company. At the moment the capital of the company is BGN 50 100. It is expected its amount to reach BGN 900 300. The mine company is a joint-ventured company between Maritza iztok and the German company Rainbraun.
Source: Democracy (19.03.2001)

One third of the former plant for fertilizers Agrobiohim - Stara Zagora is demolished and it is not possible recovery plan to be made, announced the managers of the plant. Their conclusions are that the plant was built as one whole unit and its separate productions are connected. The lawyer of Bulgargas SP JSC holds the same position. Bulgargas is the biggest creditor of the plant again with Mini Maritza- Iztok JSC. They want the plant to be announced insolvent. The plant owes BGN 50 million to the two companies.
Source: Duma (22.03.2001)

Until recently the companies have to transfer their taxes only through banks. From this year on thay also may pay the sums cash in the tax offices. Nevertheless the payments still are mainly through bank. The tax offices work with 6 banks. They are TB Biochim, TB Hebros, Expressbank , Bulbank, UBB and Bank DSK.Bulbank attends Bulgargas, the management of the air traffic. The same bank attends also the Ministry of Defence, NEC, BSR .
Source: Sega (23.04.2001)

The deal with the German company RWE Reighbraun for Maritza-iztok mines is expected to be finalized by the end of the month. The specialists on the coal extraction declared it as the consecutive bad contract for Bulgaria. According to them the State will miss the opportunity of realizing an effective privatization deal for the company Maritza-iztok SP JSC with a strategic investor. The deal is not favourable because the present company may also provide 80-90 per cent from the amount of the necessary investments for renew and rehabilitation of the mines that will invest the German concern.
Source: Standart (11.05.2001)

PA started the first 4 pivatization procedures of coal mines in the State but there is a strong interest only in Hristo Botev mine in Bobov dol. The privatization of Cherno more mine - Bourgas has to start within a month.
Source: Capital (25.05.2001)

At the presence of the Prime Minister Mr. Ivan Kostov, the Directors of NEC and Maritza-iztok mines Mr. Danail Tafrov and Mr. Petko Petkov signed the major contracts for the projects on the TPSs Maritza-iztok 1 and Maritza-iztok 3 for which has been negotiating for 4 years now. Over the next 6-9 months the two American companies - AES and Entergy will take the bank loans and will start the work on the two projects. After 2004 the two stations will provide 25 per cent of the produced electricity in Bulgaria. The share of Maritza-iztok 1 will be between 10 and 11 per cent.
Source: Sega (14.06.2001)

A green light was given to the projects of the American companies AES and Entergy for Marica-Iztok 1 and 3. The first one could be a problem for the State and NEC. This week starts the barter for export for Yugoslavia and Kosovo for the return of the used nuclear fuel of APS Kozlodui in Russia. This type of deals give a lot of opportunities for destination of financial means in the "right" direction. Two days before the elections it was announced that NEC is withdrawn of the lists form healing and they received a free access to bank credits. During the last few months of the government were released the auctions for construction of some parts of Gorna Arda. This predetermines that the complex will be built although there still are arguments whether there is use of it or not. It is not a fortuity that a conflict for legality of an auction occurs and Minstroy initiates an proceedings against NEC.
Source: Capital (24.06.2001)

Until the question for the government was discussed apparently by someone’s order the energetic monopolists with understandable tolerances were overindulging their clients - no raise of the prices, no pressure for payment of the bills, not even a word for confiscation of property. Population and companies were lighted and heated for free, some of them for half a year or more A month after the elections it was clear that it time to pay - with the interests. For half a year heat-suppliers have accumulated a debt of BGN 70 million to Bulgargas and if they do not pay it they will have to be shut down. Bulgargas which is in a regime of strengthening may stop its payments to the budget again. Electricity enterprises on the other hand can not pay to NEC in order to buy electricity.. It is already clear - the simulation of reform in the energetics started to give bitter fruits.
Source: Capital (05.08.2001)

A profit of BGN 10.867million reported the coal-mining companies for the first half of the year. The positive financial result is due to the companies with open coal-output and is compensated by the loss of BGN 8.53 of the mines with underground coal output. As a whole the profit of the companies of this sector is BGN 2.337million. The biggest profit for the first six months belongs as any other year to Maritsa-iztok mines - BGN 9.855 million. It is followed by Betren mine with a profit of BGN 474 000, Stanyanci mine - with BGN 201 000, Beli breg mines - with BGN 147 000. The lowest profit belongs Antra mines - BGN 3000. Traditionally the biggest loss belongs to Bobov dol mines - BGN5.67, followed by Pirin mines - BGN 1..94. With loss finish the first half of the year Zdravec, Balkan 2000 and Cherno more mines.
Source: Black sea (08.08.2001)

The German company Reinbraun applies for concession for extract of coil from Maritza-Iztok mines, announced Mr. Eberhart Buling, Executive Director of the Bulgarian-German mine company Maritza-Iztok. The analyses and the application for concession will be applied in the Council of Ministers during September and the decision is expected within the end of 2001. Reinbraun willl invest DEM 250 million in the mines of Maritza-Iztok.
Source: Standart (01.09.2001)

There is a chance that the project for the granting of Mini Maritza Iztok to the German company Reinbraum may fail. It foresees an investments of DEM 500 000 from the German energetic giant for a term of 20 years. It occurred that the joint venture between the Mines and Reinbaum was not profitable and the project will be reconsidered. The contract for the mines is closely connected to the contract with the American companies AES and Entergy for the power-stations in the complex. The contracts were concluded with the clause that even in a case of a future privatization or concession of the mines the terms for the deliveries to the power-stations will not be changed.
Source: Sega (01.10.2001)

Mr. Shterio Shterev - one of the three new members of the Board of Directors of Maritza Iztok mines, is offered for Executive Director of the company. The positions in the ordinary Board of Directors will be distributed at the first meeting on Wednesday. The other members of the Board of Directors are Mrs. Nedyalka Ivanova and Mr. Ivan Barumov. The project for constructing of new capacities in HPS Mritza-iztok 1 will start within the end of the month as the American company concluded the contract with the Astom consortium, elected for chief executor. The postponement of the contract is due to the prolongation of the negotiations between the government of Mr. Ivan Kostov and the American company. Another reason were the hesitations of the investors for the way they should transport the coals to the station - by railroad or by transport lines.
Source: Standart (08.10.2001)

With an order of the Chairman of State Energy and Energetic Resources Agency on 5 October were made the following changes in the Board of Directors Maritza-Iztok Mines SPLtd. from the Board of Directors are released Mr. Alexander Petrov - as a Chairman and Stefka Karaivanova.
Source: Company information (08.10.2001)

The consumers with social functions may negotiate directly with the producers of electricity since 1 January 2002. These are the Water-supply (V i K) companies, Bulgargaz and Maritza-Iztok mines, as on them depend the final prices of the water, gas and electricity. Only a part of the energy market will be liberalized since the beginning of next year. By this moment NEC is the only company in Bulgaria which will export electricity. When this sector is ready to bear the competition o the European then will be allowed other companies to the export of electricity. Since 1 January 2002 the prices for sale of electricity will be equalized to the production prices.
Source: Standart (17.10.2001)

The General Director of the projects for Central and Eastern Europe Mr. Richard Marden declared that his project for Maritza-iztok 1 is the cheapest among the new generation capacities that at the moment are important for Bulgaria. He also added that if there were not any changes in the global economic climate and legal preventions by Bulgaria, it will start in the promised terms - by the end of this year.
Source: Pari (19.10.2001)

With an order of the Chairman of State Energy Agency Mr. Milko Kovachev since 17 September 2001 from the Board of Directors of NEC SPJSC was released the Executive Director Mr. Danail Tafrov. His contract or management of the company is ceased. For a member of the Board of Directors of NEC SPJSC was elected Mr. Vasil Anastasov. From the position of Chairman of Board of Directors of Electrorazpredelenie-Gorna Oriahovitza was dismissed Mr. Anton Pavlov. A month ago was dismissed the Executive Director Mr. Nikola Bakalov.
Source: Pari (19.10.2001)

Eng. Shterio Shterev is the new Executive Director of Mini Maritza Iztok. The decision was made at a Meeting of the Board of Directors. The main reason for the dismissing of the former Executive Director - Eng. Petko Petkov is the postponement of the project with Reinbraun. The profit of the company for the first nine months of the year is BGN 17 million. 240 000 tons more coals were extracted this year as compared to the same period last year. In Maritza Iztok mines work 8 850 people. No reducing of the stuff is planed.
Source: BTA (25.10.2001)

The German concern Reinbraun has prepared four of the projects for the future joint-venture with Mini Maritza Iztok, announced the Executive Director of the company Eng. Shterio Shterev. The German company has prepared the offers for the banks which will finance the project, the evaluation of the effect over the environment, as well as the law analysis and the concession offer. The documentary will be discussed at a meeting among the experts of Reinbraun, State Energetics Agency and Maritza Iztok mines.
Source: Standart (25.10.2001)

The realization of the deals for Maritza Iztok 1 and Maritza Iztok 3 represents half of the foreign investments and the expected incomes from the privatization for the next five years. Both deals which are in amount of USD 1.4 billion symbolize the foreign investments for the last three years.
Source: BTA (06.11.2001)

The German company Raignbraun did not give up the joint-venture with Maritza-iztok mines, declared the representative of the company Mr. Eberhard Bulink. Last week the two companies declared that they were not agreed with some main parametres of the deal. Maritza-iztok mines are monopolists at the delivery of coals and provide the fuel of TPS Maritza-iztok 1 and 3. The joint-venture was created 1 year ago and the German company possesses 67 per cent and the rest 33 per cent are held by Bulgaria.
Source: Dnevnik (20.11.2001)

The Deputy Minister of Domestic Affairs Mr. Tonio Zhelezchev enters the Board of Management of Maritza Iztok. Mr. Zhelezchev and Mr. Sabomir Stoyanov are the new faces, whom the Director of the Energetic Energy Mr. Milko Kovachev appointed in the Board of Directors. They are replacing Mr. Toshko Kavaldjiev, who was a Deputy Chairman of the Board and the Economic Director Mr. Peter Todorov. The Board of Directors of Remotex JSC was changed as well. The new Chairman of the Board of Directors is the former Director Mr. Radoslav Karpachev.
Source: Standart (29.11.2001)

The German concern Reignbraun and Maritza-iztok mines most probably will not become partners on the exploitation of the lignite field in Stara Zagora region. Within a month or two a group will assess if the mines would remain a state-owned property or have to be sold at all cost. Reignbraun offers one of the mines to be frozen and the personnel of 3500 miners to be dismissed. At this stage the State has to remain a major owner of Maritza-iztok mines, was specified from the syndicate KT Podkrepa.
Source: Maritsa (05.12.2001)

Radnevo Municipality announced officially the deal between Maritza Iztok Mines and the German concern Reinbaum. The German conception for the development of the mines does not satisfy the national interests of Bulgaria, as it is not profitable neither for the mines nor for the municipality. The German concern is planning in the future joint company Maritza to enter only a part of the assets of the mine and company to be registered in Stara Zagoira. Thus the incomes of Radnevo Municipality will be drastically reduced.
Source: Standart (14.12.2001)

The Executive Director of the project AES - Maritza-iztok 1 Mr. Richard Mardun announced that there were made researches of the Bulgarian energetics. The team of the project Maritza-iztok 1 assigned the research in 1999 and it was realized by the company Energoproject JSC from Bulgaria and ERM Energy from Great Britain.
Source: Capital (22.12.2001)