Bulgaria's coal mining up 5% in 2010 - BCMG The output of Bulgaria's coal mining industry rose by an average 5% on annual basis in 2010, figures of the Bulgarian Chamber of Mining and Geology (BCMG) showed. In particular, state-run company Maritsa East registered a 6% growth in coal extraction for the first eleven months of the year, while private entities recorded a 3% rise in output for the full 2010. The improvement was mainly fuelled by the increase in electricity production, with power exports reaching 7,500 GWh, almost touching the record-high volume of 7,600 GWh seen in 2006. For January to November 2010, Maritsa East extracted 23.7 million tonnes of coal, up by some 1.8 million tonnes compared with the same period of the previous year. "Our expectations for the mining industry's development in 2011 are definitely optimistic," BCMG's executive head, Ivan Andreev, told.
Source: Dnevnik (05.01.2011)

Bulgaria's Largest Coal Mining Company to Invest BGN 88 M in 2011 Bulgaria's largest coal mining company - Maritsa Iztok Mines EAD – has announced a massive investment plan for 2011, after in 2010, and especially in the last quarter, it registered record output and profits. The state-owned company, which is part of the Bulgarian Energy Holding, a government energy megastructure, plans to invest a total of EUR 88.2 mln in expanding and modernizing its production in 2011. The investment program is designed for an output of 27 250 000 metric tons of coal in 2011, after in 2010 the company planned to produce 25 000 000 metric tons of coal, but completed the year with an output of 26 090 853 metric tons, surpassing its planned production by 4%. Its 2010 production was 2 013 728 metric tons more than the amount of coal extracted in 2009. The largest coal quarry in Bulgaria Troyanovo 1, which last year registered its highest output since 1960, with a total of 8.62 million metric tons of coal extracted in 2010, surpassing the 2007 record of 8.95 million metric tons, is the absolutely priority in the investment program, with the planned construction of a new loading terminal in order to secure the lignite coal supplies for the AES Galabovo Thermal Power Plant, an investment of the American energy giant AES, which is part of the Maritsa East 1 TPP complex, with a capacity of 670 MW. The Maritsa Iztok Mines will also invest big in the modernization and rehabilitation of its equipment, new facilities at the Troyanovo 3 quarry, new geological surveys and strengthening the existing earthworks. "The Mini Maritsa Iztok (Maritsa East Mines) company faces big challenges in the new year but we take them to stand for incentives for our proactive work with the other partners of ours in the Maritsa East I TPP complex. We will work to guarantee Bulgaria's energy independence," said Todor Todorov, CEO of the Maritsa Iztok Mines EAD.
Source: Dnevnik (17.01.2011)

Largest Bulgarian Mine with Record Coal Production Q1 The Maritza Iztok Mine in southern Bulgaria has scored 2011 its greatest yield for the first quarter of the year since 1997. For March 2011 miners at Maritza Iztok excavated some 2.5 M tonnes of coal, while for Q1 the amount is close to 7.5 M tonnes. The mine is reporting that it is fulfilling its plans for ground excavation, with close to 24 M cubic meters of earth dug up for the first quarter. The Maritza Iztok Mine, the largest coal mine in Bulgaria, is built upon a deposit of lignite coal and feeds the three Martiza Iztok power plants, as well as the Brikel briquette factory.
Source: Class (06.04.2011)

AES set to launch operations of Bulgarian thermal plant subsidiary US firm AES was to officially inaugurate its thermal power plant at Gulubovo on June 3 2011 following $1.2 billion investment. The new plant is the completely renovated former communist-era state owned Maritsa East-1 thermal power plant. The plant has desulphurisation installations that will filter about 99 per cent of noxious emissions. The plant's two units will start working at partial capacity of 210MW each, gradually working up to their full capacity of 335MW. During that time, the plant will pay compensation damages to state electricity utility NEK for not working at full capacity. AES Gulubovo was scheduled to begin operations in 2010, but the plant had to delay the start of operations. It later emerged that even though the plant was not in operation, NEK charged consumers for electricity produced there, prompting an investigation from the utilities regulator, which is yet to be concluded.
Source: Dnevnik (06.06.2011)

Toshiba exploring for new thermal power plant with CO2 capture installation in "Maritsa Iztok 2" Toshiba Corporation will investigate the possibility of building a new plant with installation for CO2 capture in "Maritsa Iztok 2", the company said. The survey will be conducted with the support of the French company Schlumberger Carbon Services, University of Sofia and the Japanese corporation Taisei. Japan Corporation was chosen to do applied research on systems for high efficiency use of coal, which is funded by the Japanese Organization for Development of New Energy and Industrial Technology (NEDO). It will start in July and completed by the end of March 2012. For the construction of new coal plant in the complex there is talk for several years. The previous government chose the working committee that developed the conditions of the tender for consultant for building of the plant. Was conducted examination for the development of state-run mines "Maritsa Iztok" that will deliver coal for the new plant. In late March Minister of Economy and Energy Traicho Traikov announced Toshiba interest in building new capacity and stated that the investment will be about 350 million euro. A month later, in discussing the new Energy Strategy of Bulgaria until 2020, he explained that the new plant could be built at the site of "Maritsa Iztok 2” and the state company may participate in the financing. According to him, it is possible two units to be detached into an independent company and building to be carry out through public private partnership. "The examination is part of Japanese government policy to promote economic growth in Japan, while reducing global emissions of CO2 through the implementation of leading energy and high efficiency technology abroad," said the statement of the Japanese corporation. It is intended the examination to cover all coal plants in Bulgaria. In the statement is said that it is supported by the Bulgarian Energy Holding company. The Japanese corporation has signed a memorandum of cooperation with BEH and the Bulgarian economy ministry.
Source: Standart (06.07.2011)

Bulgarian Mines Break Coal Production Record in January-August 2011 Bulgaria's state-owned Mini Maritsa Iztok EAD (i.e. Maritsa East Mines Jsc) achieved a record production of coal in the first eight months of 2011. A total of 20.62 million metric tons of lignite coal were extracted by the Maritsa East Mines in January-August 2011, improving the previous best result for the first eight months of any given year, which was the production of 16.60 million metric tons of coal in 1996. The January-August 2011 coal output marks an increase of 7 million metric tons year-on-year, and is 500 000 metric tons more than the goal set by the company for the respective period. "The motivation and team work of over 7 200 employees improved the previous highest production," Mini Maritsa Iztok said in a statement. The company announced that since the start of 2011 so far it has dug up, transported, and deposited more than 66 million cubic meters of earth mass, a 57% increase year-on-year. This way the mines are preparing to meet the demand by the several large-scale thermal power plants in the Maritsa East energy complex, including Maritsa East 2 EAD, Contour Global Maritsa East 3, AES Galabovo, and Brikel EAD. By the end of 2011, the management of the Maritsa East Mines originally planned to extract 27.25 million metric tons of coal, and to dig up 94.9 million cubic meters of earth mass. Taking into account the record output in the first eight months, however, the company expects it will produce at least 28-29 million metric tons of coal in 2011. With all thermal power plants in Bulgaria having submitted their orders for 2012, Mini Maritsa Iztok EAD forecasts the production of over 32 million metric tons of coal next year. Much of the increase is due to the launch of the AES Galabavo TPP, a massive investment of the US energy giant AES, into a 670 MW facility opened in the spring of 2011. (Darik Radio)
Source: Standart (09.09.2011)

Bulgarian Business to Increase Salaries as of 01.01.2012 The Bulgarian business will increase the salaries of their employees from the New Year. In some private companies the increase will be between 5% and 20%, CITUB informed. The trade unions also stated they would insist on a 10% increase of the salaries in the budget sector as of January 1, 2012. This increase will cost 450 million levs to the state treasury but this sum will not put at risk the fiscal stability of the country, CITUB reckon. The realization of the budget is going better than last year and fore three trimesters there is a growth of the GDP. At the same time a lot of job cuts were made in the public sector, CITUB president Plamen Dimitrov stated.
Source: Standart (30.09.2011)

German company Siemens will rehabilitate the power of mines Troyanovo 3 and Troyanovo - North of the state company Mines Maritza Iztok, said the company. The project also includes renovation of the main transformer in the company and building of new mobile substations. The total contract value is EUR 12.5 million, of which 8.79 million were granted by the International Fund Kozloduy thought the European Bank for Reconstruction and Development (EBRD). In the summer of 2009, Mines Maritza Iztok signed a contract with the EBRD for grant under the Fund Kozloduy for a total of EUR 15.1 million. The total project cost for energy efficiency in the company is EUR 21.4 million. EUR 6.3 million of them will be paid by funds of Mines Maritza Iztok. According to plan the project must be completed by the end of the year.
Source: Dnevnik (20.10.2011)

Tsvetan Vasilev, Chairman of the Supervisory Board of CCB: CCB is the largest net creditor of the energy system in Bulgaria Tsvetan Vasilev, Chairman of the Supervisory Board of Corporate Commercial Bank (CCB) commented that crediting in Bulgaria could be boosted through projects related to energy infrastructure and infrastructure in general – roads, ports and airports. In relation to Bulgarian National Bank (BNB) data that CCB’s profit until end-September 2011 was BGN 45 million, or about BGN 10 million less compared to the same period of 2010, Mr. Tsvetanov said the bank had planned such a reduction in its earnings and it was related to its conservative policy. He noted that the bank had a mere 1% of bad loans due to the different approach it had towards financing projects related to real estates. Regarding the widely discussed topic of state money deposited in CCB, Mr. Tsvetanov said the state did not have any money deposited in CCB and if it did, it was secured by government bonds. As for companies that were partly owned by the state, he admitted that several companies, most of which from the energy sector, were clients of the bank, but they had no more than 10% of their total assets deposited in CCB. He also emphasised that CCB was the largest creditor of Bulgaria’s energy system. As for CCB’s plans for 2012, Mr. Tsvetanov said that the bank had no intention to change the priorities that it had outlined in 2000. Ever since Bulbank sold its share in CCB, the bank had focused on sustainably developing sectors, such as infrastructure and export-oriented manufacturing that were less vulnerable to the crisis.
Source: Class (14.11.2011)