Bulgaria, Westinghouse Sign Shareholders' Agreement on Unit 7

Bulgaria's government announced Thursday a shareholders' agreement was signed with US-based company Westinghouse on the construction of Kozloduy NPP's Unit 7.

The document is due to be approved on by the next elected government after the early general vote on October 5, according to the Council of Ministers' press office, the Bulgarian National Radio reports.

Ministers gave the green light to the agreement on Wednesday, when they held their last cabinet meeting before a caretaker government assumes office on August 6.

The preparation and approval of a Financial model agreement and an Engineering, Procurement and Construction (EPC) contract will also be required for the Shareholders' agreement to enter into force.

Earlier this week, Westinghouse CEO Danny Roderick visited Bulgaria to meet key government representatives.

Roderick revealed a final deal on the construction of Unit 7 is expected next year, during the tenure of the next elected government.