DPS Politician Ahmed Dogan Buys Varna Thermal Power Plant

The Turkish-Bulgarian politician Ahmed Dogan bough the defunct Varna Thermal Power Plant.

Capital.bg reported on the purchase. They write that the power station hasn’t been operational for the last 3 years. It was bought by the family of former Bulgarian Transport Minister, Danail Papazov, who restored the TPP with financial assistance from the state. On August 7th, the 70% of the family’s company Sigda was sold to Ahmed Dogan. The deal reportedly cost €48,5 million. Danial Papazov couldn't have been reached for any statement on the buyout.

While the deal was made in August, it wasn’t filed in the trade registry until September 4 due to its collapse. Dogan bought 36% of the company from Stanislav Papazov and 34% from Ivelina Papazova. The exact price of the transaction is still unclear as it's hidden in annexes that aren’t made public.

The TPP won’t have any changes in management or in operations. According to information from Capital, the plant doesn’t produce any electricity despite having 168 employees as of June 2018.

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Alex Dimchev

Alex Dimchev is a writer, editor, and weapons master for EUscoop.com

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