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Bulgaria to get 10.9 mln euro KIDSF grant for three gas pipelines – EBRD

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OIL & GAS

Bulgaria to get 10.9 mln euro KIDSF grant for three gas pipelines – EBRD

SOFIA (Bulgaria), February 6 (SeeNews) – Bulgaria’s state-owned gas transmission system operator Bulgartransgaz will receive a 10.9 million euro ($12.4 million) grant from the Kozloduy International Decommissioning Support Fund (KIDSF) to partially finance the construction of three gas pipelines, the European Bank for Reconstruction and Development (EBRD) said.

Bulgartransgaz is expected to launch procurement for the 21.8 million euro project in the third quarter of the year, the EBRD, which manages the KIDSF, said in a statement on Tuesday.

Bulgartransgaz will use own funds to finance the remaining 50% of the project’s cost.

The three pipelines, with a total length of 122 km, include a pipeline to Svishtov, in northern Bulgaria, one to Panagiurishte and Pirdop, in the country’s west, as well as one to Razlog and Bansko, in the southwest.

The projects are expected to be completed within 20 months of the contract signature date.

The KIDSF finances or co-finances projects related to the decommissioning of four units of Bulgaria’s sole nuclear power plant Kozloduy, which were closed down to address the nuclear safety concerns of the European Union prior to the country’s accession to the bloc in 2007.

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