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11.11.2015 16:58
Bulgaria to Increase the Capital of Burgas – Alexandroupoli Pipeline Project Company
The government has also undertaken legal actions for the project company’s liquidation with the Court of Appeal in Amsterdam, after partnering countries Greece and Russia denied mutually agreed liquidation
AUTHOR: publics.bg


  • © tbpipeline.com

The Bulgarian government announced today it has approved an increase to the capital of the “Project Company Oil Pipeline Burgas – Alexandroupolis BG” EAD for the cancelled oil pipeline project Burgas – Alexandroupoli, through the issuance of shares worth BGN 38,000 (about EUR 19,000). The amount will be acquired by the Bulgarian state through the Ministry of Finance and are meant to cover responsibilities assumed under international contracts, by the end of 2015.

The government has also undertaken legal actions for the project company’s liquidation with the Court of Appeal in Amsterdam, after partnering countries Greece and Russia denied mutually agreed liquidation. The project company is currently being managed by an external managing Dutch contractor who assures its functioning with decreased expenses. Stakeholder states are providing yearly payments corresponding to their stakes in the project company.


TAGS: Bulgaria | Burgas | Alexandroupoli | pipeline | project company | liquidation | capital | Greece | Russia | energy 


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