nuclear-news

Court action over nuclear plant, Bulgaria versus Russia

Bulgaria takes Russia to court over nuclear plant

* Bulgaria files counter claim against Atomstroyexport

* Says Russian nuclear firm owes it over 60 mln euros

* Decision on Belene plant delayed until April

SOFIA, Oct 6 (Reuters) – Bulgaria has taken Russia’s nuclear company Atomstroyexport to court over delayed payments for equipment it agreed to buy under a deal to build the Belene nuclear power plant, the economy and energy minister said.

Bulgarian state utility NEK teamed up with Atomstroyexport in 2006 to build two 1,000 megawatt reactors at Belene, on the Danube river, but the project has stalled over price disputes with Moscow, funding problems and safety concerns.

Sofia decided to seek legal action against Atomstroyexport after the Russian nuclear company refused to withdraw its 58 million euro claim against NEK over delayed payments on the project it filed in July.

NEK said Atomstroyexport owes it more than 60 million euros ($79.9 million) for buying out old equipment at the Belene site, which will not be used for the new reactors.

“On Friday, NEK filed its claim with the Geneva-based arbitration court,” Energy Minister Traicho Traikov told state TV channel BNT in an interview.

The state utility NEK confirmed it had filed a claim at the ICC International Court of Arbitration, adding the arbitration will take place in Geneva.

Last week, Bulgaria delayed a decision whether to build or not the Belene project to the end of March, when it hopes to have a clearer idea on the costs, the economic viability and the safety guarantees.

apan’s nuclear disaster increased pressure on Bulgaria from environmentalists and lobby groups to abandon the project, which they say will be built near an earthquake-prone area and will be too expensive.Russia has said construction will cost 6.3 billion euros, while Sofia says it should not exceed 5 billion. The total price tag can reach up over 10 billion euros, analysts say….

October 7, 2011 - Posted by Christina Macpherson | Bulgaria, politics international