August 1, 2014 / 8:37 AM / 4 years ago

Bulgaria signs nuclear deal with Westinghouse

SOFIA, Aug 1 (Reuters) - Bulgaria - one of five European Union states that depend totally on Russia for nuclear fuel - and Westinghouse Electric Company signed a shareholder agreement on Friday that would pave the way for construction of a new nuclear reactor, officials said.

Westinghouse, the world’s largest nuclear fuel producer and part of Japan’s Toshiba group, will take a 30 percent stake in Kozloduy NPP - New Build, which is building new units at the Kozloduy nuclear site in Bulgaria.

“The agreement is signed. It will however only enter into force if approved by the next government,” said Ivan Genov, chief executive of Kozloduy nuclear plant.

Bulgaria’s government resigned last week, paving the way for an interim government to take over for two months, ahead of a snap election in October. (Reporting By Tsvetelia Tsolova; editing by Matthias Williams)

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