Home > Bulgaria general news, Bulgarian Economy, Politics and Lies, The Balkan > Public-private partnership (PPP) is a good opportunity for reviving investment activity in Bulgaria

Public-private partnership (PPP) is a good opportunity for reviving investment activity in Bulgaria

Public-private partnership (PPP) is a good opportunity for reviving investment activity in Bulgaria and easing the negative effects of the crisis, this was the united position of the participants in the conference organised by Pari daily on PPP in times of crisis. Partnership between state and business is well accepted by both parties. PPP is one of the mechanisms to solve the problem with municipalities’ dropping incomes because of the slowdown and increasing expenditure. For the business, on the other hand, this is a low-risk investment with secured long-term redeemability. That is the reason for the increased interest towards this “marriage of propriety”.

Source: Pari

The European Commission (EC) rejected a request by Bulgarian prime minister Sergei Stanishev to send European officials and diplomats to help the state administration. In a special letter, European Commission chief Jose Manuel Barroso told Stanishev the demanded new institutional mechanisms are improper for an EU member state. According to Barroso, the other countries in the bloc are experiencing an “assistance fatigue” and the Bulgarian government should first show concrete and visible results to motivate its partners to send in more experts and new funding. Stanishev’s Cabinet said they would not abandon the idea to appoint foreign experts into the “problematic” administrative units.

Source: Dnevnik

Bulgarian producer prices dropped 0,9 % on a monthly basis in February, the statistics office said on Monday. Producer price growth decreased from 2,2 % to 05 % on an annual basis, the data shows. Processing industry prices were down 1,6 % on a monthly basis, while mining industry prices increased by 3,7 %. The index of total producer prices dropped 1,0 % on a monthly basis and 3,1 % on an annual basis.

Source: Darik radio

Liquid Fuels, Tailoring Products, Canning, Perfumery and Cosmetics,
Furniture, Meat Products, Wine, Wood processing

Companies

Polimeri JSC chemical plant reported 3.15% growth of total income for 2008. Turnover was BGN 47.7 million against BGN 46.2 million in 2007. Sales hold the highest share of the income, 97.8%, and last year they rose by 2.7% year on year to BGN 46.6 million. Despite the rise, profit of the company dropped by 54.7% to BGN 452,000. Total expenses grew to over BGN 47 million, or up by 4% on an annual basis.

Source: Pari

Bulgarian company Svilengrad Gaz, which is 60%-owned by Turkish businessman Fuat Guven, is seeking a 35-year gas distribution permit in the town on the southern border. The application will be reviewed today by the State Energy and Water Regulatory Commission (SEWRC). The company’s remaining capital is split between the municipality and local engineering, construction and energy group Enemona. In early 2007 the Svilengrad city council moved into Svilengrad Gaz, acquiring a 10% stake through an in-kind contribution of a 0.3 hectare land plot.

Source: Dnevnik

Battery maker Elhim Iskra sees its pre-tax profit falling to BGN 100.000 in the first quarter versus BGN 1.1 million in the respective period last year. Moreover, sales are seen shrinking by 57% in the first quarter to BGN 4.3 million, mainly on low demand in view of the global financial crisis, said the company. Elhim Iskra plans to invest BGN 1 million on new machinery and optimization of the production process by the end of the year.

Source: Company information

Austrian companies will invest EUR 260 M until 2011 in Bulgaria for renewable energy projects. Dr. Michael Angerer, a commercial adviser in the Austrian Embassy in Bulgaria, announced. Austrian renewable energy projects have already started in Bulgaria. A total of 120 MW facilities will be constructed until 2010. Austrian investors show interest towards the Gorna Arda Dam (Upper Arda), Angerer said. Besides EVN, who have already announced its intentions, OMV has also wanted to take part in the project, he added.

Source: Darik radio

Bulgarian bridge construction company Moststroy JSC envisages BGN 50 million revenue generated from construction, installation and maintenance projects for 2009, an official statement from the company revealed. “Last year’s negative economic influences affected all companies in the sector, Moststroy included. Complications therefore emerged with processing structural funds from the European Commission. Numerous infrastructure projects were either halted, or scrapped altogether, hence the company did not realise its revenue figures,” said a Moststroi spokesman. The net unconsolidated profit for 2008 amounted to BGN 143,000, a substantial increase over the net profit for 2007, which was BGN 5,153.

Source: Sofia Echo

Germany’s Enertrag plans to invest one billion euros to build three wind energy parks in Bulgaria, its Bulgarian unit said. The new wind farms, with a planned total capacity of 660 megawatts, will be set up near the town of Dobrich, Denitsa Nozharova, manager of Enertrag Balkan, told. ‘The three farms are expected to become fully operational by 2017,’ Nozharova said. The German wind farm developer plans to provide 30 percent of the necessary funding, and seek bank loans for the remaining amount. It is also considering setting up a fund and attracting more investors for the projects, Nozharova said.

Source: Econ.bg

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