Russia demands a deadline for NPP Belene debt repayment – Bulgaria, 10 September 2016

Russian officials informed Bulgaria that the ruling of the international arbitration regarding NPP Belene project should be enforced as soon as possible and that Bulgaria should set deadlines for the repayment of 620 million euros debt for the project.
The statement comes only a day after the meeting of the Russian-Bulgarian working group which focused on the issues related to the implementation of the arbitration ruling. In mid-June, the Arbitration Court in Geneve has ruled that Bulgaria has to pay compensation to Russian company Atomstroyexport (ASE) over the cancelled project for the construction of nuclear power plant Belene. According to the ruling, Bulgaria will have to pay for the equipment which ASE produced for the plant. In 2011, ASE has submitted 58 million euros lawsuit against National Electric Company (NEK) claiming compensation for the terminated NPP Belene project, but in September 2012 the claim amount was significantly increased.

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