AtomStroyExport may raise claim against NEC on Belene nuke project to EUR 130mn


Russia's AtomStroyExport, part of the state Rosatom, is considering raising the value of the claim against the National Electricity Company (NEC) regarding delayed payments for completed activities under the Belene nuclear project to EUR 130mn, mediapool reports quoting president of AtomStroyExport Alexander Gluhov. The increase of the amount results from delayed payments on more completed activities. We remind that in July, the Russians filed a EUR 58mn claim at the International Court of Arbitration at the International Chamber of Commerce in Paris regarding the above issue. Earlier this month, Bulgarian economy minister Traycho Traykov informed that NEC has filed a counterclaim against AtomStroyExport. NEC has said earlier that AtomStroyExport should pay EUR 61mn for the purchase of the old equipment, which has been settled in a contract, and that it would turn to the International Court of Arbitration at the International Chamber of Commerce in Geneva regarding the redemption of the equipment. In February 2008, Atomstroyexport signed a EUR 4bn preliminary contract to build the 2,000 MW nuclear power plant. In December 2010, the maximum price for the construction of the nuclear power plant was set at EUR 6.298bn. On Oct 3, NEC and the Russian company signed 14th annex to the preliminary contract for the construction of a nuclear plant in the Danube town of Belene delaying the final decision on the project by six more months until Mar 31, 2012