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Switzerland, Bulgaria mull power exports to Italy

Date: 27.10.2005

A Swiss company has offered Bulgaria to cooperate in exporting electricity to the hard of access Italian market.

This was announced by Economy Minister Rumen Ovcharov after conferring with his Swiss counterpart Joseph Deiss.

Bulgaria, currently a mighty power exporter to South-Eastern Europe, is threatened to weaken its capacity in the next several years - two 440 megawatts units of its sole nuclear power plant Kozloduy are to be decommissioned at end-2006, while major energy projects are falling behind schedule.

During his talks with Minister Deiss representatives of Swiss companies have singled out insecure judicial system, red tape and corruption as the main obstacles in their business contacts in Bulgaria.

Switzerland's investments in Bulgaria total USD 657.8 M from 1992 till the first half of 2005.

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