By the end of the year Russian Gazprom and Bulgarian energetic holding (BEH) will invest for 12.5 MEUR in the South Stream gas line. That became clear from decision of the project gas line company. The funds will cover the current costs, as the land buying on the route.
From the total amount only 1.000 EUR will go on the company capital increase, and the rest will go directly in the “pot”. This is third company recapitalization from 2010th by today.
South Stream Board of Directors in Bulgaria in which Gazprom and BEH have same shares, gave right to the directors to allocate money at its discretion, but within the budget.
It is expected that gas line construction starts at the end of the second quarter of 2014th. Designers, constructors and material suppliers for gas line have been chosen currently. From the company South Stream Bulgaria announced that deadline for the offers submission expired on 15th November.
Seven consortiums participate in competition. Among these also is Russian Strojtransgaz, which is included in all Gazprom projects and it is considered as sure participant in the construction of South Stream gas line. According the Bulgarian sources, Bulgarian companies will participate with 25 % in the activities of his construction.
Source; Serbia Energy