Mechel, one of the leading Russian mining and steel groups, has announced that it has increased its stake in the charter capital of the Bulgarian power station Toplofikatsia Rousse to 100 percent following its recent acquisition of a 51 percent stake. The other 49 percent of shares were purchased by Mechel in 2007.
"The stake increase to 100 percent is a logical step by Mechel in strengthening its positions in the power industry and in increasing efficiency of its operations in the European power market following the strategy of increasing the output of high value-added products," Mechel Energo CEO Viktor Gvozdev said.
Toplofikatsia Rousse runs all municipal heat distribution systems in the city of Rousse as well as remote heat supply stations.