World Bank Declares 6 Bulgarian Water Companies Suitable for Private Partnership / Legal Services in Bulgaria

World Bank Declares 6 Bulgarian Water Companies Suitable for Private Partnership

by Sofia News Agency www.novinite.com

Six Bulgarian water supply and drainage companies (ViK) have been declared by the World Bank as suitable for public-private partnership, according to Georgi Georgiev, Director for Bulgaria of WTE, the company affiliated with the Austrian energy giant EVN. Georgiev spoke on Thursday during a seminar held in Istanbul, Turkey. WTE, Georgiev said, was going to apply for the concession of some of those companies, most likely the ones in Plovdiv and Burgas. The other four are in Stara Zagora, Pleven, Lovech and Dorbich. Over 29 Bulgarian businesses have declared their interest in the 6 ViK companies. Georgiev further explained that the water supply and drainage system in Bulgaria was deteriorating due the the delay in the adoption of the Water Supply Law, adding that the the ViK companies needed to be owned by the municipalities, and not the State as it is in most cases. The water supply infrastructure in Bulgaria is 20 years old and completely depreciated. The needed investments to modernize the system are estimated at EUR 10 B. With State funds only such modernization would be completed by the year 2040 while private investments can help achieve the goal by the year 2025, the WTE Director for Bulgaria pointed out.