March 27 (SeeNews) - The Bulgarian government said on Wednesday that it will terminate the concession contract for the Svetlen argillaceous marl deposit with local company Rodna Industria 91 due to the concessionaire's failure to fulfil basic contractual obligations for over three months.
The concession will be unilaterally terminated as Rodna Industria 91 has not paid concession fees and has not provided bank guarantees under the contract, including those ensuring environmental protection and restoration, as well as reclamation, the government said in a statement following its weekly meeting.
The Svetlen deposit is located in the municipality of Popovo, in the northeastern region of Targovishte. Popovo-based Rodna Industria 91 signed the concession contract in October 2004.