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WorleyParsons has reached agreement with the national electric company of Bulgaria, Natsionalna Elektricheska Kompania EAD (NEK), on an Addendum to its Architect Engineer contract for the project execution phase of the Belene Nuclear Power Plant Project in Bulgaria.
This contract was initially signed by NEK and WorleyParsons in January 2005 and is valid throughout the multi-year contracting, design, construction, commissioning and start-up phases of the project. The gross revenue to WorleyParsons under the Addendum is expected to be € 28.97 million (approximately A$48.3 million) in 2008. The Addendum also outlines the terms and conditions (excluding pricing) for the whole project execution phase through to 2016.
Entering the project execution phase of activities under the agreement, WorleyParsons continues its very successful relationship with NEK, Bulgaria’s state-owned electric utility. WorleyParsons is currently providing similar services for the Maritza East 2 Thermal Power Plant - the biggest thermal plant in the country, located in Southeast Bulgaria.
Natsionalna Elektricheska Kompania EAD is Bulgaria’s state-owned electric utility and serves almost all high voltage customers in Bulgaria and all four power distribution companies. The utility owns the large hydro power plants of total capacity 2 563 MW and the country’s power transmission network with a total length of 14 480 km. Besides this, NEK owns a 27% stake in the Maritza East 3 Thermal Power Plant together with ENEL. NEK is the largest provider of electricity to Bulgarians and exporter of the electricity in the Balkan countries. All total, more than seven million Europeans receive their power directly or indirectly from NEK. NEK also owns the site of Belene NPP which will be the biggest investment in Bulgaria for the next 15 years.
