January 26 (SeeNews) - Bulgarian oil refiner Lukoil Neftochim Burgas, part of Russia's Lukoil, is planning to invest 339 million levs ($211 million/173 million euro) in the upgrade of its thermal power plant (TPP) by 2024, Bulgaria's energy regulator said.
Lukoil Neftochim Burgas plans to buy new turbines this year and new boilers in 2022, the energy regulator said in a report on the company's 2020-2024 investment programme, published last week.
The company plans to finance the investment via a combination of own funds and borrowed capital.
Lukoil Neftochim Burgas was the fifth largest company in Southeast Europe by revenue in 2019, according to the SEE TOP 100 annual ranking published by SeeNews.
(1 euro = 1.95583 levs)
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