Gov't OKs VAT refund to Trans-Balkan Pipeline co.

The Greek government’s decision over a VAT refund to the Trans-Balkan Pipeline company for the period 2008-2010 was announced during a joint general meeting of shareholders and the Supervisory Board of Trans-Balkan Pipeline B.V. (ТВР), held in Rome on Feb. 17.

“The specific move and the fact that the two preliminary environmental studies have been approved as well as the timely preparation of the project’s draft law reflect the continuous and firm efforts made by the Greek government to proceed with the project’s materialisation,” a Trans-Balkan Pipeline company statement underlined.

The further financing of the project was also decided while an agreement was reached on the adoption of cost minimisation measures. In addition, the Bulgarian shareholder received a deadline until March 20, 2011 to settle existing debt to the company and continue further financing the project.

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