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Bulgaria Sues Rosatom

Bulgaria filed a 61 million euro ($81 million) claim against Rosatom in a dispute over the construction of a nuclear plant on the Danube.

State-owned National Electricity Co. applied to an arbitration court in Geneva to claw back the sum from Rosatom for unpaid purchases of old equipment, the utility said Thursday.

In July, Rosatom unit Atomstroiexport said it had filed a 58 million euro claim against Bulgaria in the International Court of Arbitration in Paris for delayed construction payments. Atomstroiexport was hired in 2005 to build the plant for an initial cost estimate of 4 billion euros. The project stalled because of a lack of funds and a dispute over new costs caused by the delay. Last month, the two companies agreed to extend an accord to March next year on the building of the proposed 2,000-megawatt plant.

(Bloomberg)

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