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D Bank is ready to lend BGN 22 million to Ahmed Dogan's TPP Varna The renovation of the TPP Varna controlled by Ahmed Dogan and Danail Papazov is secured with a new BGN 22 million loan resource from D Bank. The loan agreement is dated February 26, but it is only now visible from a pledge entered in the Commercial Register on the plant and its assets in favor of the bank, which is owned by Fuat Guven. The amount is probably for the ongoing renovation of the units of the TPP, which, after being acquired by the politicians from the MRF, earns, without being operational, from cold reserve contracts with the state Electricity System Operator. However, there is no official information on whether the loan has been used. TPP Varna itself was sold at the end of 2017 by CEZ to Sigda, a company owned by the family of former Transport Minister Oresharski's cabinet Danail Papazov. The deal was then financed with a EUR 24.225 mln loan from First Investment Bank. Months later in 2018, the honorary chairman of the MRF, Ahmed Dogan, bought a 70% stake in Sigda for about BGN 1.5 million, according to Papazov.

 

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