The State allocates another BGN 1.8 mln for its liabilities under the Burgas-Alexandroupolis project

The State will issue some new 18,000 shares of the company involved in the construction of the Burgas-Alexandroupolis oil pipeline, despite its withdrawal from the  project, decided the Government yesterday.
The shares are worth BGN 1.8 mln and the money will cover costs under the project, before Bulgaria’s final withdrawal from it. The decision, however, does not specify exactly what those costs were.

In early March, Finance Minister Simeon Djankov said that Bulgaria had paid out in full its accumulated liabilities on the Trans -Balkan Pipeline project company. The country’s contribution for 2008 stood at € 1.421 mln and was paid the same year. The contributions for 2009 and 2010 (€4.876 mln and €1.323 mln) were remitted in February 2012. The amount due for 2011 was € 171,500 and it was paid out at the beginning of last year.

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