Energy Minister Traikov Pushes for Fixed-Price Deal on Kozloduy NPP at Talks with S. Korea Ambassador, Hyundai Reps

Caretaker Energy Minister Traicho Traikov has called for fixed prices in the construction of new units 7 and 8 at the Kozloduy Nuclear Power Plant during talks with South Korea’s Ambassador to Bulgaria Dong-bae Kim and representatives of Hyundai Engineering & Construction, the Energy Ministry reported here on April 16.

Traicho Traikov stressed the importance of strong participation by Bulgarian companies in the project, saying it is crucial for the economic development of northwestern Bulgaria and the country as a whole. He welcomed Hyundai’s commitment to assign 30% of the work to Bulgarian companies.

The Korean side reported progress on the project and the need to extend the engineering contract, which expired on March 4, to include additional technical work and avoid delays.

Traicho Traikov warned against uncontrolled cost increases, citing past projects with open-ended extensions, and insisted that the new nuclear units should be built at fixed prices. He also raised concerns about land acquisition costs for the site, calling for fair valuation.

The engineering contract for the project was originally signed on November 4, 2024, and both sides have now agreed on terms for its extension, pending approval by Kozloduy NPP and Bulgarian Energy Holding.