Stara Zagora Regional Water Investment Project

The Stara Zagora Regional Water Company has received a loan from the European Bank for Reconstruction and Development (the “Bank”) and is using the proceeds for a project to renovate the Stara Zagora Water Supply and Sewerage Company’s (“Stara Zagora Regional Water Company” or the “Company”) water distribution network.

The Stara Zagora Regional Water Company is the implementing agency. The project is implemented in phases, as follows: phase one in 2007, intermediate phase in 2008-2009 and final phase in 2010-2011. The project has a total estimated cost of EUR 11.6 million equivalent for goods, works and consultancy services, proposed to be financed by the Bank and the Company, and will require the procurement of the remaining goods, works and services.

Tendering for Works and Consulting contracts for the final phase is expected to begin in the first quarter of 2011 and for the remaining, Goods contract in the third quarter of 2011.

Contracts to be financed with the proceeds of a loan from the Bank will be subject to the Bank's Procurement Policies and Rules and will be open to firms from any country. The proceeds of the Bank's loan will not be used for the purpose of any payment to persons or entities, of for any import of goods, if such payment or import is prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations or under a law of official regulation of the Purchaser's country.