Bulgarian coal mining complex Mini Maritsa Iztok has signed a 50
million lev ($27.1 million/25.6 million euro) loan agreement with two banks,
local media reported.
The coal mining company will use the proceeds from
the loan to partly cover its debts to suppliers, state-owned Bulgarian National
Radio reported on Tuesday, quoting Mini Maritsa Iztok's executive director Andon
Andonov.
Under the agreement, the loan will be repaid by the state-owned
Maritsa Iztok 2 thermal power plant (TPP) which in turn owes the coal mining
company 59.2 million levs.
According to Andonov, the Bulgarian units of
US companies AES and ContourGlobal owe Mini Maritsa Iztok a total of 206 million
levs, andlocal power producer Brikel owes it a further 47 million
levs.
AES operates the Maritsa Iztok 1 coal-fired plant in Galabovo and
ContourGlobal operates the Maritsa Iztok 3 TPP. Earlier this month the two
companies agreed with state-owned power utility NEK on a decrease by 14% and
17%, respectively, in the capacity price for electricity produced by their
coal-fired plants in the southeast of the country. For its part, NEK will pay
all arrears to the two companies amounting to a total of 700 million
levs.
These agreements, however, have no bearing on the US companies'
debt to Mini Maritsa Iztok, Andonov said.