The capital of the Bulgarian Burgas-Alexandroupolis oil peline project company increases by BGN 120 thousand

12.12.2018

At its today’s session, the Council of Ministers decided that the capital of the “Burgas-Alexandroupolis Project Company – BG” will be increased by BGN 120,000 through the issuance of 1200 new shares. The shares will be acquired by the state through the budget of the Ministry of Energy.

The funds for the capital increase are provided in the Ministry’s of Energy budget for 2018 and are intended to support the project company as well as to secure the financial commitments of the company as a shareholder in the international company Trans Balkan Pipeline B.V.

“Burgas-Alexandroupolis Project Company – BG” EAD is a state-owned joint-stock company in which the Minister of Energy exercises the rights of the sole owner of the capital. Trans Balkan Pipeline B.V. was established in 2008 under an Intergovernmental Agreement between the Russian Federation, the Republic of Bulgaria and the Hellenic Republic.

Source: 3E