A factory for packaging of liquid bitumen was opened in India by the Bulgarian-Indian joint venture “Prime Star Petroleum and Infrastructure”. It is situated near the town of Bivandi, 25 km away from Mumbay. The factory will be operating as a Sub-contractor of Indian state oil giant company called “Hindustan Petroleum Corporation Ltd.”, after winning a tender for the project implementation related to “design, construction and operation”.
This is the first major Bulgarian investment in India and it is worth EURO 2.2 million. Bulgarian-Indian factory occupies an area of 28 decares and its daily capacity for packing bitumen drums reaches 450 tons per shift. Bulgarian party has provided investment, engineering and technical assistance in the implementation of the modern project, which was implemented for the record for India term of 9 months. Complete commissioning of the factory was organized by a team of Bulgarian engineers sent there on business. More than 1 million tons of road bitumen will be processed and packed in the factory over the next eight years, as per the scope of the contract with the Indian giant, with an option for additional extension of the partnership.
The official ceremony was attended by members of the Board of Directors of the factory, Bulgarian engineers, the Indian working staff and the head of the Office of Trade and Economic Affairs (OTEA) in India Stefan Yonkov. After the ceremony, a meeting of the head of OTEA with members of the Board of Directors of “Hindustan Petroleum Corporation” was held at the company’s headquarters in Mumbai, and future prospects for expanding the cooperation were discussed.
The project fully complies with the new campaign of Indian Government “Make it in India”, aimed at attracting foreign direct investments and realization of profits for foreign companies through realization of their investment projects in India.