Energy minister Rumen Ovcharov issued an ordinance for founding a new legal entity named Nuclear Plant Belene to replace the relevant branch of the National Electricity Company. The act is linked to the expected imminent launch of field works for building a 2,000 MW nuclear power plant in the Danube town of Belene . Engineering and construction works valued at EUR 4bn are provisionally assigned to Russia ’s AtomStroyExport in a partnership with France ’s Areva and Germany ’s Siemens. The Italian energy company Enel is reportedly ready to acquire up to 49% of the shareholders’ capital in the new nuclear plant, which will have two power reactors with production capacities of 1,000 MW each. The first unit of the plant is expected to launch operations in late 2013. The state will retain a majority stake of at least 51% in the newly set company. Last month, the state-owned National Electricity Company launched a tender for contracting a EUR 250mn bridge loan aimed at financing investments during the first year of the project.