State Energy Regulation Commission (SERC) fixed the quotas of electricity local plants will be allowed to negotiate directly with big-scale consumers in 2005 by decision date December 20 2004, thus settling the argument between the energy ministry and the privatization agency. The institutions were not able to reach a common stand on the proposals, made by the consultant in the privatization of the thermal power plants, to sign 10-year contracts with the National Electricity Distribution Company (NEC) for buy up of the electricity produced in the plants in Rousse, Varna and Bobovdol. Ministry of energy and energy resources stated this would block the liberalization of the market and suggested the term of the contracts should be 2.5 years. Following SERC’s decision, TPP – Varna will be able to release freely 574 mln kWh of electricity – more than NPP Kozloduy, which is allowed to release 500 mln kWh. TPP Bobov dol has the right to sell 258 mln kWh. One of the units of TPP-Rousse will be able to release 42 mln kWh. The rest of the produced electricity will have to be sold to NEC at prices, determined by SERC no December 22. TPP Varna and TPP Rousse so far sold to NEC at price of respectively BGN 47.78 and BGN 49.28/mWh. As of January 1 2005, they will sell at respectively BGN 42.39 and BGN 46.64. The prices are VAT not included. The price for TPP Bobov dol will be changed from BGN 48.56 to BGN 48.54/mWh. In 2004, only 9 per cent of the Bulgarian energy market war liberalized., this year 40 per cent of it will have to be liberalized, and in 2007 the liberalization process should be completed. The limit of annual consumption for clients, who can choose their electricity producer themselves, will drop from the current 40 to 23 gWh annually from the middle of 2005 on. Big buildings will also be able to choose their electricity supplier. Currently, 10 enterprises have this right. They are mines Maritza Iztok, Stomana Industry, KCM – Plovdiv, Asarel-Medet, Umicore Med, Devnya Cement, LUKoil, Agropolychim, and Neochim.
Source: Sega (03.01.2005)

The Cabinet approved a letter of support for the construction of a substitute capacity at the site of the Thermal Power Plant Maritsa-East 1. The project will be financed and fulfilled by the world energy company AES Corporation. The state assumed with the letter commitments that do not represent a state guarantee. The new capacity at the site of the TPP Maritsa-East 1 will be 670 MW and will use lignite from Mines Maritsa Iztok.
Source: Standart (28.01.2005)

Yesterday, Bulgaria’s government approved a letter of support of the project for the building of a 670 mW replacing capacity on the platform of TPP Maritza Iztok 1, sent by US-registered AES Corporation. Through the letter supporting the USD 1.2 bln project, the state assumes obligations, not representing state guarantee. They include: undertaking measures, providing observing project agreements, as well as conditions, according to which the parties in this agreement should repay their debts in case of merger, restructuring and privatization.
Source: Monitor (28.01.2005)

Coal froze. Some 3 000 miners of the Razkrivka section of the three Maritza-East mines will go on compulsory holiday as of tomorrow – February 1. We will stop working until March 6. Besides the bed weather conditions now, there is a great advance in the work there. It was accumulated by the reduced coal mining in January, the deputy head of Mines Maritsa Iztok (East) Mr. Georgi Georgiev announced. The mines have produced 700 000 tons of lignite coals less than the month schedule.
Source: Standart (31.01.2005)

3,000 miners from Mines Maritsa Iztok are going on one-month pay leave from February 1, the company announced. The reason is the lower results of the state-owned company in the first month of the year.
Source: Sega (01.02.2005)

A working group headed by Bulgarian deputy energy minister Angel Minev is collecting confidential information about the condition of two state-owned companies: Maritsa Iztok Mines and Maritsa Iztok 2 thermal power plant (TPP). The information will be used to sell the companies to Germany's private RWE-Power, which is interested in their privatisation, Yordan Dimov, MP of the left-wing Coalition for Bulgaria and former employee of the Maritsa Iztok complex, said in Stara Zagora. The directors of the TPP and the mine are busy filling in bulky questionnaires, giving answers to questions containing classified information. Their answers will be summarised and handed to the German company after February 3, Dimov said. The TPP is on the prohibitive list for privatisation and cannot be sold in the next five years, before it is equipped with desulphurising facilities and is upgraded under a Japanese loan agreement, he added. Due to suspicions about under-the-table privatisation Yordan Dimov and Stefan Maznev, an MP of the United Democratic Forces, are preparing an inquiry to energy minister Kovachev. The two claim that certain circles in the ministry are working towards the financial ruin of the two state-owned enterprises. I will not be surprised if a legal amendment is made by June 1, putting Maritsa Iztok 2 on the table for divestiture, Maznev said. RWE Power AG has a joint venture with Maritsa Iztok Mines to prepare a project for development and modernisation of the mines. This is the reason why it is studying the possibilities for strategic partnership with Bulgarian power producers, the energy ministry replied. A RWE team has been in Bulgaria since the beginning of this year to carry out its own analysis of the condition and viability of the Maritsa Iztok complex.
Source: Pari (01.02.2005)

NSSI announced the top 20 most loyal employers with a personnel of 100 to 250 people for 2004, insuring a total of 10 046 men with an average insuring income of BGN 739. The company is included in the list.
Source: Other (08.02.2005)

NSSI announced the top 20 most loyal employers with a personnel of over 1000 people for 2004, insuring a total of 104 959 men with an average insuring income of BGN 545: The company is included in the list.
Source: Other (08.02.2005)

BTC will insure 39 000 its employees in the Zakrila Bulgarian Health Insurance Company. Zakrila is local biggest company for voluntary health insurance, as National Electricity Distribution Company, Nuclear Power Plant Kozloduy, the Electricity Distribution Companies in Stara Zagora and Gorna Oryahovitsa, Mines Maritsa Iztok, and Mobiltel are among its clients.
Source: Trud (15.02.2005)

Local labour unions are against the privatization of the Maritza Iztok mines. In a protest declaration by the KNSB and Podkrepa unions addressed to the head of the energy commission in Parliament Mr. Veselin Bliznakov, they claim they would fight to preserve the state ownership in the mines. They fear otherwise the privatization would be implemented “in the dark”.
Source: 24 chasa (24.02.2005)

Last week Minister of Energy Mr. Milko Kovachev granted to the US company AES the letter stating the government’s support to the new heat-power plant at the ground of TPP Maritza-iztok 1. The document was adopted at the session of the Council of Ministers held on January 27. It does not provide state guarantee, nor includes financial liabilities to the government. It aims at confirming the Government’s engagement to support the investment and to establish conditions for setting the already confirmed contracts. For example the US company is guaranteed that its agreement with Mines Maritsa Iztok for coals supply will work even if eventual change in the currently state-owned company occurs.
Source: Construction City (01.03.2005)

A request for granting a coal mining concession to Bulgaria's Maritsa Iztok Mines will be submitted before the end of the current government's term, energy minister Miroslav Sevlievski told journalists. The company is part of a Bulgarian-German venture, Maritsa Iztok Mining Company, where it holds 33.33%. Its partner, RWE Power, is owner of 66.67%. The contract establishing the joint venture was signed in 1998. Ever since local energy specialists have warned that the German company wants the concession to be given to the venture, not to the Bulgarian mines. If the concession is granted to the Bulgarian-German company, the Germans will monopolise coal mining in the complex and impose tougher conditions for purchase of coal by the local thermal power plants. Earlier this year the then energy minister, Milko Kovachev, told the PARI daily that the concession would be given to the mines. Moreover, talks are under way to change RWE's stake in the venture.
Source: Pari (25.03.2005)

Bulgaria's National Electricity Distribution Company (NEC) is in negotiations to buy 100 ha of land from Brikel of Galabovo. The plot will be used for storage of coal for the future power capacity at Maritsa Iztok 1. The project will be carried out by US AES. The land was sold about a year ago to the new owner of Bulgaria's only briquette maker. The privatisation contract does not oblige the buyer to sell the plot. According to the Privatisation Agency, however, the contract contains a clause binding Brikel to give right to construction to AES. In an interview for the PARI daily Brikel CEO Kancho Filipov recently said that the company planned to sell the land to NEK, which in turn will grant the right to construction. Our contract for sale of electricity to NEK includes a clause that guarantees the provision of land for the new capacity, project director Matthew Bartley said after meeting Stara Zagora regional governor Maria Neykova. AES's project envisages the construction of two power units with a total capacity of 670 mW. The investment will amount to EUR 1.042 billion. The project has to be completed by the end of 2008, its launch is expected about June 15, 2005. France's Alstom Power has been selected as chief contractor. It will choose the producers and suppliers of the main equipment needed. Subcontractor for the construction and installation works is the Bulgarian subsidiary of Turkey's Gama Holding, Gama Bulgaria. Its contract is said to amount to EUR 80 million. Bulgarian companies will receive about BGN 200 million of the whole value of the project, said Bartley. In his words, the project will employ more than 2,500 people, 200 specialists will service the plant. The Bulgarian government recently approved a letter of support for the project, in line with the Investment Encouragement Act. The letter guarantees that after the privatisation of Maritsa Iztok Mines, the new owner will continue to supply coal to Maritsa Iztok 1 thermal power plant.
Source: Pari (31.03.2005)

Mines Maritsa Iztok, the concrete making plant Vulkan and the company Ilchevi were given Golden Rose for the greatest amount of taxes paid in Plovdiv. The companies participated in the competition Taxpayer of the Year. The director regional tax directorate Mr. Petko Angelov granted the awards. The nominated companies were 18, as Asarel-Medet, Vinprom – Peshtera, TPP Maritsa 3, Kurdjali-BT, and Smolian BT were among them.
Source: Sega (28.04.2005)

For the first time this year not only a tax payer of the year will be nanounced but also an insurer of the year. The competition is organized by The General Tax Directorate and the National Social Security Institute. Winners will be announced on Wednesday. And the nominated are: Tax payer- legal person - Water Supply and Sewerage - Vratza LTD - Vratza - Peshtostroy SPLTD - Gips JSC - Port Complex Rousse SPJSC - Rousse - Balkani-LK SPLTD - Bourgas Insurer- legal person - Berg Montana Fittings JSC - Montana - Albena JSC - Albena - Mines Maritsa Iztok SPJSC - Radnevo - Rousse Shipyard JSC - Rousse - Hydraulic elements and systems JSC Large Taxpayer - Blagoevgrad BT JSC - Blagoevgrad - Lukoil-Neftochim JSC - Bourgas - Bulgarian Telecommunication Company JSC - Sofia - Nuclear Power Plant Kozloduy SPJSC - Kozloduy - Vinprom - Peshtera JSC - Plovdiv Large Insurer - Air Transport Management - Lukoil-Neftochim JSC - Bourgas - Steamboat Bulgarian Sea Navy - Stomana - Industry JSC - Pernik - Àsarel Medet JSC
Source: Pari (09.05.2005)

The National Social Security Institute announced the list of the first quarter of 2005 top 50 most loyal employers with a personnel of 250 to 500 people, insuring a total of 20,095 people with an average insurance income of BGN 614. The company is included in the list. 7 Information services JSC - Sofia
Source: Other (09.05.2005)

The National Social Security Institute announced the 50 most loyal employers for the first quarter of 2005 with personnel of over 1000 people, insuring totally 106 811 people with an average insurance income of BGN 561. The company is included in the list.
Source: Other (09.05.2005)

For a second year Lukoil Neftochim of Bourgas has been named as the biggest taxpayer in Bulgaria and has received the prize in the category of the big. Lukoil provides one-quarter of the total tax revenue and 9% of the gross domestic product. The winners in the competition for taxpayer and social-security payer in Bulgaria for 2005 were announced last night. For the first time the competition is organised by the National Revenue Agency, the Chief Tax Directorate and the National Social Security Institute (NSSI) with the media support of the PARI daily and web portal dir.bg. The NSSI will give electronic signatures to all nominated social-security payers. They will also receive special VIP service. Lawyer Todor Batkov is the biggest taxpayer among natural persons in Bulgaria. For the first time this year awards are given to individuals, as well as to companies. Winner in the category of legal persons is Balkani LK, which deals with repair of electrical equipment under modern technologies. The biggest social-security payer for 2005 is Stomana Industry, the Pernik-based steel producer. In the category of legal persons, winner is Maritsa Iztok Mines. The biggest individual social-security payer is Georgi Cholakov from Sliven.
Source: Pari (12.05.2005)

The renown Bulgarian lawyer Todor Batkov and the Bourgas refinery Lukoil Neftochim won the awards Biggest Tax Payer in Bulgaria. The competition was organized by the Chief Tax Directorate. The ceremony, which was held in Sofia’s Sheraton hotel, was attended by finance minister Milen Velchev and the head of the Tax administration Mr. Nikolay Popov, who officially handed the awards Lukoil Neftochim won the prize for the second year in a row. Bourgas-based company Balkani-LK was also given a prize for Loyal Tax Payer – Legal Entity. For the first time this year, Bulgaria’s three biggest social securers were awarded. These are Stomana Industry, Mines Maritza Iztok, branch Mine Troyanovo – north, and the Sliven resident Mr. Georgi Zlatev, who is the person who paid the highest social security contributions last year.
Source: 24 chasa (12.05.2005)

Ministry of energy said a new letter supporting the project for the building of a replacing capacity on the platform of TPP Maritza Iztok 1 was being prepared and was due to be submitted in the Council of Ministers by the end of June. The new letter would include a paragraph, guaranteeing the origin of the bank capitals. The due diligence by the bank creditors is still ongoing. The initially announced date of the launching of the project (June 15) most probably will not be observed. The chief executor of the 680 MW replacing capacity is Alstom Pawer. The building works are executed by the Turkish company Gama Bulgaria Ltd.
Source: Pari (01.06.2005)

Stomana Industry, the Pernik-based steel mill, chemical plant Polomeri AD and EFT Bulgaria, recently licensed to operate as electricity trader on the Bulgarian power market, have been given the go-ahead to buy electricity directly from power producers, said Miroslav Dyankov from national power grid operator NETC. The three companies have signed contracts with NETC and have been duly registered by the operator. EFT Bulgaria will resell electricity supplies to eligible local consumers and broker power exports abroad. After NETC's monopoly expires, EFT Bulgaria will be able to pursue direct export transactions. Copper mining and processing company Assarel-Medet, non-ferrous smelter KCM, the Maritsa Iztok mining complex, fertiliser plants Agropolychim and Neochim, oil refinery LUKoil Neftochim, cement mill Devnya Ciment and copper smelters Umicore Med and Elatsite Med are currently the consumers eligible to engage on the deregulated segment of the local power market. They all have annual energy intake exceeding 100gWh - a bar that will be lowered to 20gWh from July, and pay a transmission charge to NETC for the electricity they buy directly from the producers. The rate of liberalisation of Bulgaria's power market is lagging earlier estimates. Only 11% have so far been opened to competition, missing the target of 18.5%, said Konstantin Shushulov, chairman of the State Energy and Water Regulatory Commission. The regulator designates to each power producer an annual quota of electricity that can be sold on the deregulated segment. The producer is free to negotiate the price of delivery directly with the buyer. Nuclear power plant Kozloduy and thermal power plant (TOO) Maritsa 3-Dimitrovgrad have requested that their annual quotas are raised while the TPPs in Bobov Dol and Rousse have been struggling to sell theirs.
Source: Dnevnik (10.06.2005)

Mines Maritsa East of Radnevo reported a loss of BGN 30 million for the first five months of the year, company's CEO, Shteryo Shterev said. The reason is decreased consumption of coal in the thermal power plants. The company produced 22.295 million tonnes of coal last year, down by 1.0 million as compared to 2003. Maritsa East of Radnevo showed a net profit of BGN 3.9 million for 2004, compared to BGN 19 million for 2003.
Source: Pari (14.06.2005)

The management of the state-owned company Thermo-electric power plant Bobov dol SPJSC will be obliged to conclude a 5-year contract for buying up the coals produced by the mines the TPP works with. This became clear after thew meeting of the local mines and TPP’s managers, held in the Ministry of Energy and Energy Resource. The contract will be signed before the TPP Bobov dol’d eventual privatization. The contract will stop the plans of the future buyer – the Italian Enel or the Greek PPC, for replacing the plant’s fuel from coal to gas. The Government also decided that TPP Maritsa-iztok-2 should pay annually at least 9 mln tonnes of coals to Mines Maritsa Iztok, no matter if it uses them or not.
Source: Sega (24.06.2005)

Due to heavy rains, work in Mines Maritsa Iztok SPJSC – Radnevo has been suspended. Gradual system loading has begun at noon yesterday, vice CEO of Mines Maritsa Iztok- engineer Georgi Georgiev said. In the afternoon of the 4 of July, 9 new trains were set on their way to Thermo-electric power station Maritsa-iztok-2 SPJSC ; no land sliding was reported.
Source: Pari (05.07.2005)

A new system for early notification in case of excessive gas emissions of SO2, is being developed at Maritsa-East. The system will start operating not later than October, said Mrs Penka Natcheva , director of the Regional Inspection for the Environment and the Water- Stara Zagora. The system is part of the requirements needed to be fulfilled for issuing a permit to the complex. There will be no fine imposed on the thermo-electric power plants for the recent excessive gas emissions, as no irregularities were established. The municipality council, has requested a more strict control on Maritsa-East and guarantees that there are no dangerous experiments performed on the Zmeevo firing ground.
Source: Pari (12.07.2005)

The 2005’s first half top 50 most law-abiding employers with a personnel of over 1000 people, insuring a total of 106,852 employees with an average insurance income of BGN 592. The company is included in the list. 1. Nuclear Power Plant Kozloduy SPJSC - Kozloduy 9 Ideal Standard Bulgaria JSC - Sevlievo 13 Bulgarian Telecommunication Company JSC - Sofia 26 Asarel Medet JSC - Panagyurishte
Source: Other (08.08.2005)

NEC gradually losing big consumers The National Electricity Transmission Company (NEC) is gradually losing a part of its major consumers due to the liberalization of local energy market. This is seen from the results published in the company’s report for the first half of 2004. This trend will get even stronger over the next couple of years, energy experts forecast. Currently, direct supplies to producers of electricity, without the mediation of NEC, have been agreed by Agropolychim, Umicore, Assarel Medet, Polimeri, Stomana Industry, Devnya Cement, and Mines Maritza Iztok. At least 4 other major enterprises are expected to sign direct contracts with electricity producers by the end of this year. Besides, a private electricity trader also showed up on the market – the recently licensed CEZ Trade. All this will result in the reduction of NEC’s profit – to BGN 40.5 mln in the first half of this year, versus BGN 56 mln in the same period of last year, Eng. Vasil Anastasov, CEO of the company, commented. The National Electricity Transmission Company (NEC) is gradually losing a part of its major consumers due to the liberalization of local energy market. This is seen from the results published in the company’s report for the first half of 2004. This trend will get even stronger over the next couple of years, energy experts forecast. Currently, direct supplies to producers of electricity, without the mediation of NEC, have been agreed by Agropolychim, Umicore, Assarel Medet, Polimeri, Stomana Industry, Devnya Cement, and Mines Maritza Iztok. At least 4 other major enterprises are expected to sign direct contracts with electricity producers by the end of this year. Besides, a private electricity trader also showed up on the market – the recently licensed CEZ Trade. All this will result in the reduction of NEC’s profit – to BGN 40.5 mln in the first half of this year, versus BGN 56 mln in the same period of last year, Eng. Vasil Anastasov, CEO of the company, commented.
Source: Monitor (10.08.2005)

Mines Maritsa Iztok is to get a concession for coal mining in East Maritsa coal mining field for 35 years. The granting of concession to the state-owned company was decided at the beginning of July by the Council of Ministers. The field spreads on an area of 209,309 decares. According to the contract Mines Maritsa Iztok SPJSC will operate the field on its account and will make investments. In addition the company should re-estimate the reserves each year by the end of January. The company will have the capacity to extract over 30 mln t of coals annually. This year’s production program stipulates the production of 22 mln t.
Source: Standart (11.08.2005)

The directors' board of Bulgaria's Maritsa Iztok Mines approved the final parameters of the concession contract for coal mining in the Maritsa Iztok basin, deputy director Sabimir Stoyanov said. Within a few days the document will be signed by outgoing energy minister Miroslav Sevlievski and the mine's CEO, Shteryo Shterev. The decision to grant a coal mining concession was taken by the council of ministers on July 13, 2005. The term of the contract is 35 years and gives the company the right to mine coal from a 20,930 ha deposit. According to experts, if 20 to 25 million tonnes of coal are produced a year, the deposit will suffice for at least 50 years. The concessionaire commits to develop coal mining in the region and invest funds at its own expense. The company will also take actions to preserve the environment and recultivate the land.
Source: Pari (11.08.2005)

Mines Maritsa Iztok reported direct and indirect damages worth BGN 5 mln caused by the floods during the first half of the year. The main reason for the great loss is the decreased electricity production by the three TPPs in the energy complex Maritsa Iztok. The decline is due to the higher electricity production by HPPs aimed at using a part of the water. The state-owned company will try to compensate the losses by cutting material costs and reducing the number of activities assigned to external companies.
Source: Monitor (15.08.2005)

On a session held yesterday on the occasion of their official holiday, representatives of the National Mining Chamber insisted not to privatize Mines Maritza Iztok. Miners’ trade union organizations insisted again to privatize Mines Bobov Dol and Thermal Power Plant Bobov Dol in one stake. The branch organization thinks a national mining agency should be established, which should manage the branch.
Source: Sega (19.08.2005)

Assarel Medet Exports Ores Worth USD 600 mln Ores and metals worth USD 600 mln will be exported in 2005, Mr. Lachezar Tzotzorkov, CEO of Assarel Medet and chair of Bulgaria’s Mining Chamber forecast. Yesterday, the companies operating in the branch celebrated their official holiday. In 2005, the branch expects to sell products forth over BGN 1.5 bln. Mines Bobov Dol to be privatized in one stake together with the thermal power plant Bobov Dol, the miners’ trade union organizations continue to insist. They, along with Maritza Iztok, are the only mines in Bulgaria which are still state property.
Source: Standart (19.08.2005)

Local Mining Industry Expects Production Output Worth BGN 1.5 bln Bulgaria's mining industry will post sales of BGN 1.5 bln in 2005, up from BGN 1.3 bln in 2004, the Bulgarian Mining Chamber forecast on Thursday, August 18. 2005 exports are estimated at USD 600 mln versus USD 455.1 mln a year ago. The chamber counts 197 companies in Bulgaria's mining industry. The sector employs 30,335 workers, down 10,000 in the past 4 years.
Source: Dnevnik (19.08.2005)

Germany’s RWE Power has not given up its intentions to compete for the privatization of Mines Maritza-Iztok and the thermal power plant Maritza-Iztok 2, the head of the projects department in REW Power Mr. Eberhard Bulling said. He visited Radnevo on the occasion of the Day of Miners. We have almost completed the project research of Mines Maritza Iztok, Mr. Bulling said. Three RWE specialists are arriving to study the extraction of coal in Bulgaria. However, we are facing some problems in the project research of TPP Maritza-Iztok 2, Mr. Eberhard Bulling admitted.
Source: Pari (22.08.2005)

The miners from Maritsa Iztok will ask for a compensation of at least one million tonne of coal by the end of the year, the executive director of the Bulgarian company, Shteryo Shterev, said. The miners will present their demand to the minister of economy and energy, Rumen Ovcharov, on Wednesday. Maritsa Iztok is 2 million tonnes behind its production schedule, because of the strongly reduced capacity of the thermal plants in the complex. Therefore Maritsa Iztok is currently in a considerably unfavourable financial situation. Its managers have been forced to drastically contract the company's investment plans. Maritsa Iztok is currently elaborating a crisis programme for annual production of 18 million tonnes.
Source: Pari (24.08.2005)

The rehabilitation of the second unit of Bulgaria's Maritsa Iztok 3 thermal power plant (TPP) is some 15 months behind schedule. This emerged during a visit of economy and energy minister Rumen Ovcharov to the complex. The problems arise from impaired relations among the project partners, he said in Stara Zagora, adding the dispute may have to be settled in court. Owner of 75% of Maritsa Iztok 3 is Italy's Enel. There are also problems at Maritsa Iztok 2, where Mitsui and the TPP owner in the person of the management are having controversies. The Japanese company, which has to rehabilitate the TPP's units one to four and install desulphurising facilities, has reserves about the chief consultant that was chosen earlier this year. However, minister Ovcharov was categorical that if a new procedure was organised nobody could say when the project would start. At the same time the refurbishment is to a great extent a means of solving the problem with the frequent pollution of Stara Zagora. Another issue in the complex is the reduced coal production. Instead of posting a BGN 10 million profit by now, Maritsa Iztok Mines of Radnevo have logged a BGN 1 million loss, due to poor coordination among the National Electric Company (NEK), the TPPs and the mines. NEK and Maritsa Iztok Mines will hold a meeting in Sofia by this week's end to seek a way out the deadlock, Ovcharov said after a talk with the management of Bulgaria's biggest coal mining company. More progress has been made on the project for construction of a replacing capacity at Maritsa Iztok 1, where AES of the USA will invest EUR 1.075 billion. The negotiations with the financing banks are expected to be finalised by October, construction can begin in early 2006, Ovcharov said. .
Source: Pari (25.08.2005)

Bulgaria's biggest open-cast mine, state-owned Maritsa Iztok Mines, has a new executive director. By order of economy and energy minister Rumen Ovcharov, Shteryo Shterev has been replaced by Ivan Markov, a former member of the board of directors and chairman of the Bulgarian mining association. Two new deputy directors have also been appointed: Vladimir Sotirov and Tencho Kayryakov. The board of directors will be chaired by Hristo Ovcharov, his deputy will be Krassimir Nikolov. Galya Tosheva and Dimitar Gerassimov remain members of the board. The new management will work to stabilise the company technologically and financially, Ivan Markov said. Due to the delay of the modernisation and rehabilitation of the Maritsa Iztok thermal power plants the mines will be working at reduced capacity in the next few years. Recently the mines' management said it had begun to prepare a crisis business plan for production of less than 18 million tonnes of coal a year, which would most probably entail staff downsizing.
Source: Pari (19.09.2005)

A detailed evaluation and analysis of the joint venture between mines Marisa-Iztok and German Concern RWE will be made, the Deputy Minister of Economy and Energy, Mr. Iordan Dimov announced yesterday. What has been done till now would be nothing without a clear project, he said. There is a big risk of loosing RWE as an investor in this situation. Mr. Dimov can not report the amount of the funds spent on preliminary researches and the company’s costs till now.
Source: Standart (29.09.2005)

Competition Protection Commission (CPC) imposed a BGN 50 000 property sanction on PIC Doverie due to unfair client attraction practices. The procedure was launched following letter by the Financial Supervision Commission (FSC), redirecting signal sent by PIC Saglasie. PIC Doverie issued vouchers for free fuel aiming to attract workers and employees of Mines Maritza Iztok SP JSC, currently insured by other companies. According to CPC, this is an unfair method.
Source: Pari (30.09.2005)

US-based AES, which is building the replacing capacity in the region of Galabovo, is buying 7000 decares of land. An agreement has already been reached with Mines Maritza-Iztok SP JSC of Radnevo. Recently, the US company bought at a very high price the plot, where the future heating plant will be located from the private Brikel SP JSC of Galabovo.
Source: Duma (14.10.2005)

The new management of the biggest local coal producing plant Mines Maritsa Iztok - Radnevo, is preparing for the 3 difficult years ahead, the company’s CEO, Mr. Ivan Markov, admitted. Due to expected over 15-month delay in the rehabilitation and modernization of TPP Mines Maritsa Iztok 3, as well as the expected delay of the repairworks in TPP Maritza Iztok 2, this year the miners will lag with about 2 mln t of production output, which will result in losses worth BGN 30 mln. Currently, an anti-crisis program is being implemented, which is aimed at making up for at least BGN 600 000 by end-December.
Source: Pari (19.10.2005)

Radnevo-based Mines Maritsa Iztok started negotiations without publishing an announcement under the Public Procurement Act for credit institution election, which could be able to grant Mines Maritsa Iztok a credit line amounting to BGN 8 mln. The funds are needed for urgent eco-project implementation. The company has invited three banks - BNP Paribas Bulgaria, DZI Bank and Corporate Commercial Bank. Mines Maritsa Iztok pointed as motivation for its procedure choice the long terms required for the organization of open or limited procedure or for procedure of negotiations with announcement.
Source: Monitor (28.10.2005)

The heat supply companies in Plovdiv, Varna, Shoumen and Pernik are to be sold off in the year to come, the privatization of the energy sector plan stipulates, presented by experts to members of the Parliament’s commission on energy. Three HPPs are also included in the sale list – Yakoruda, Hubchevo, and Lukovit. The mines and the plants in the Maritsa-iztok complex, as well as the NPP Kozloduy, were left in the list banning privatization. The future sale of TPP Bobov dol will be implemented in a poll with the mines.
Source: Standart (03.11.2005)

It is almost certain that Bulgaria's Maritsa Iztok Mines will have an output of 21,173,000 tonnes of coal for 2005, CEO Ivan Markov said. The company has already produced half of the 600,000 tonnes planned to be mined in order to make up for the delay and finish the year at a profit. The preparations for the autumn-winter season are nearing completion. The delay in the uncovering of the coal layers is expected to be compensated at the end of November, Maritsa Iztok management said.
Source: Pari (14.11.2005)

The National Social Security Institute's Top 50 of the most law-abiding employers with personnel of over 1000 employees, insuring a total of 112 403 people with average insurance income of BGN 599 during January-September 2005. The company is included in the list: 1. Nuclear Power Plant Kozloduy SPJSC - Kozloduy 13 Bulgarian Telecommunication Company JSC - Sofia 29 Asarel Medet JSC - Panagyurishte 35. Ideal Standard Bulgaria JSC - Sevlievo
Source: Other (24.11.2005)

Privileged Consumers to Buy 2.429m mWh by End-June 2006 Privileged consumers will have bought 2.429 million mWh by end-June 2006, State Energy and Water Regulation Commission forecasts. The entities tat meet the legal requirements to be 'privileged consumers' in Bulgaria are only ten at present, the six independent power producers are struggling to gain some them for clients. The large electricity producers may generate more than 14 billion mW by then. The largest is the country's nuclear power plant Kozloduy, followed by the thermal power plant Maritsa East.
Source: Pari (20.12.2005)

Bulgaria's Maritsa Iztok Mines expects a pre-tax profit of BGN 3 million for 2005, CEO Ivan Markov told the PARI daily. As much as 300,000 tonnes of coal will be mined by December 31, which will raise the total annual output to 21 million tonnes. In 2006 the company expects to produce at least 20.7 million tonnes and register a positive financial result. The investment programme amounts to BGN 64 million, including own and borrowed funds.
Source: Pari (28.12.2005)

A fine of BGN 200 000 was imposed to TPP Maritza-Iztok on repeatedly pollution over the town of Stara Zagora, the minister of environment, Mr. Djevdjet Chakarov announced yesterday. Agropolychim have to pay BGN 57 420 due to water pollution and the owners of Solvay-Sodi – BGN 8717. From years, Maritza-iztok pays monthly fines because of environment pollution.
Source: Sega (30.12.2005)