Archive for March, 2007

BULGARIA RANKED IN THE TOP 10 OF COUNTRIES FOR OUTSOURCING

Friday, March 16th, 2007

Bulgaria has climbed up from the 15th to the 9th position in a ranking of the 50 most convenient countries for outsourcing where India, China and Malaysia take the first places. The Global Services Location Index 2006 has been drawn up and presented by A.T. Kearney. It has been prepared on the basis of 41 criteria grouped in 3 categories: business environment, costs and human resources. The analysts form. A.T. Kearney underline the fact that Bulgaria, Slovakia and the Baltic States outstrip many countries that have previously established themselves in the field.

BOURGAS-ALEXANDROPOLIS PROJECT ENDORSED

Thursday, March 15th, 2007

A cooperation agreement for the building and exploitation of an oil pipe-line linking the seaports of Bourgas and Alexandroupolis was signed by the Minister of Industry and Energy of the Russian Federation, Victor Hristenko, by the Minister of Regional Development of Republic of Bulgaria, Assen Gagauzov, and by the Minister of Development of Republic of Greece, Dimitris Sufas on March 15, 2007 in Athens. The value of this major international project is estimated at around EUR 1 billion. The length of the pipe-line will be approximately 300 km (182 miles) and its capacity will reach up to 50 millions of tonnes of crude oil per annum. Russian President Putin stated that large depositories with capacities reaching up to 600 000 tonnes of oil shall also be built in Bulgaria and Greece. According to him, such significant reserves would guarantee the economic stability and security of both countries when complicated circumstances occur on world energy markets. The Agreement will be implemented by a consortium in the capital of which Russia will hold a 51 % stake and Bulgaria and Greece – respectively 24,5 % each. The Russian company Transneft is set to become operator of the pipe-line. The pipe-line’s construction is programmed to start in the beginning of next year.