Rosatom does not agree with a new rescheduling of the construction of Belene NPP

“Russian Rosatom corporation does not agree with a new rescheduling of the construction of the Belene NPP (Nuclear Power Plant) and if the final contract is not signed by July 1, Russia will claim damages of €980 mln,” reported the Russian Kommersant newspaper, highlighting further that, at present, the corporation is working under Agreement 12, signed in early April. According to it, the EPC (Engineering, Procurement and Construction) contract has to be signed by July 1. After that date, the project contractor Atomstroyexport will have no legal basis to continue its work on the Belene NPP. “If the EPC contract is not signed on time, this will be viewed as a refusal on the Bulgarian part to implement the project,” explained the newspaper. Such a refusal would give grounds to the Russian side to claim penalties for the project.

The financial analysis of the project for the second Bulgarian NPP is being drafted by the British HSBC bank. The contract for consulting services was signed with the bank on Monday and it will expire in 18 months.

Therefore, according to the edition, Sofia hopes for Rosatom to show understanding and to agree on a new extension of the deadline for the signing of the EPC contract.

The Russian side was ready to claim damages at the beginning of April, when the last Agreement 11 expired. Kommersant quoted the statement of Minister of Economy, Energy and Tourism, Traicho Traikov that he expected HSBC to complete the financial analysis of the project by July 1. According to the Minister, however, the bank is unlikely to be able to carry out a thorough analysis of such a large project on time.

“I will not rush the decision on the Belene NPP because it comes down to billions,” said yesterday Prime Minister Boyko Borissov. He added that the contract for the construction of the Belene NPP, described as a "Grand Slam" by President Georgi Parvanov, was signed in 2006. The then ruling Government postponed the signing of the final contract by 12 months and the deal was concluded in 2007,” Borissov said.

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