BEH freeze your company for industrial investments Operations of the established three years ago Energy Investment Company as a subsidiary of Bulgarian Energy Holding (BEH), which had to realize the plans of the government of Plamen Oresharski for reindustrialisation of Bulgaria with state funds, are frozen. The news was announced by a representative of BEH. The company was registered on January 31, 2014 as property of BEH to carry on investment business and intellectual property transactions, to develop and introduce new technologies, entrepreneurship, consulting, engineering and other activities in the field of energy. Launched at that time idea of the then Minister of Economy and Energy Dragomir Stoynev was for BEH to expand into an industrial holding having bought the assets of two bankrupt companies - Remotex- Radnevo, which repairs equipment of the state-owned Mini Maritsa Iztok and fertilizer factory Chimco in Vratsa.
Source: mediapool.bg (03.02.2017)

New EU Regulation Threatens Bulgaria’s Thermo-electric Plants Recently proposed amendments to EU's Industrial Emissions Directive (IED, 2010/75/EU) regarding the industrial CO2 emissions, including that of thermoelectric plants, is threatening to lay off 10,000 Bulgarians employed in the energy sector. The unrest follows a decision of the European parliament of 15th of February to accept a proposal on the reform of the EU Emissions Trading System (ETS). The proposal is meant to ensure a more cost-effective system of emission reductions and an overall increase of low-carbon investments across the EU. The leadership of Bulgaria's Chamber of Mining and Geology, Maritsa-Iztok Mines EAD, and energy experts have come up with a common declaration against the proposed amendments to the Best Available Techniques (BAT) reference documents, the so-called BREFs. The amendments set stricter permit conditions for CO2 and other greenhouse gases emitted by industrial installations. The problems is that none of Bulgaria's thermal plants and mining installations can comply with the new regulations, and their upgrade is going to cost hundreds of millions of BGN.
Source: 3e-news (22.02.2017)

Mini Maritsa Iztok is now an official railway carrier Mini Maritsa Iztok coal mining company can now carry goods on the national railway infrastructure in the section Nova Zagora - Stara Zagora - Dimitrovgrad - Simeonovgrad, the company announced, which has received an official safety certificate for the railway safety management system. This was the last condition for the company to operate as an independent railway organization. With the acquisition of the certificate, Maritsa Iztok became thefourth state-owned company and the 14th in Bulgaria, which has the right to transport goods on the national railway infrastructure. This will mostly apply to transport on the Simeonovgrad - Nova Zagora railway, which is not electrified, but provides a more direct connection from Turkey to the interior of Bulgaria and Europe. The license also allows the rolling stock of the mines to transport limestone from the deposits in the region to the thermal power plants of the complex that they use for their sulfur-purifying installations.
Source: Banker (22.05.2017)

Bulgarian coal miner Mini Maritsa Iztok seeks EUR 10.2 mln working capital loan The Bulgarian Energy Holding (BEH) said that coal mining company Mini Maritsa Iztok is seeking a BGN 20 million loan in the form of overdraft, to be used for current payments to suppliers, employees and the state. The loan is to be divided into two lots - of BGN 12 million and BGN 8 million, respectively, BEH said in a press release. The mining company will use the BGN 12 million portion to cover employee-related costs, while the BGN 8 million portion will cover payments to suppliers. Loan offers should be submitted by August 7. In May, Mini Maritsa Iztok said its net profit rose to BGN 37 million in the first quarter of 2017, compared to BGN 10.7 million in the like period of last year. BEH pools state-owned energy assets.
Source: Capital (26.07.2017)