Timchenko's Stroitransgaz to build South Stream pipe in Bulgaria-sources

by Reuters
Friday, 21 March 2014 09:34 GMT

MOSCOW/SOFIA, March 21 (Reuters) - A consortium led by Russia's Stroitransgaz, owned by sanctions-hit businessman Gennady Timchenko, will win a 3.5 billion-euro deal to build a section of the South Stream gas pipeline across Bulgaria, industry sources said on Friday.

Timchenko owns 63 percent in Stroitransgaz Group and on Thursday was on the list of Russian officials and businessmen who were hit by U.S. sanctions over Ukraine.

"The Stroitransgaz-led consortium has been picked to build the Bulgarian part of the pipeline," a source familiar with the deal said. (Reporting by Svetlana Burmistrova in Moscow, Angel Krasimirov and Tsvetelia Tsolova in Sofia; writing by Vladimir Soldatkin, editing by Elizabeth Piper)