This would be the largest single investment made in the history of the Bulgarian economy
A German company has expressed interest in an investment of more than EUR 1 billion in the region of Northwestern Bulgaria. This became clear during a meeting today between the Minister of Economy and Industry Nikola Stoyanov and the management of Profine Energy GmbH.
“You can count on the full support of the state to speed up administrative procedures for the implementation of investment plans,” Minister Stoyanov stressed. He presented the opportunities for incentives that investors could take advantage of. “I know that you are already in contact with many German companies that have chosen Bulgaria. I am sure you will be convinced by them as well – German business feels comfortable in our country and a number of companies are planning new expansions,” Nikola Stoyanov stressed.
The German company is at a very advanced stage of making its decision to invest in Bulgaria, it became clear during the meeting. The preparation of a Memorandum of Understanding in which Profine Energy will declare in writing its interest in the investment has also started.
Profine Energy GmbH is a joint venture between Profine Group, Germany and Wirth Group, Germany. They have investment interests in the field of electricity generation from renewable energy sources. The establishment of a subsidiary of the German company under Bulgarian law is currently underway. Its purpose is the development and subsequent realization of photovoltaic plants in Bulgaria, the company representatives emphasized.
The seriousness of the investment intention was confirmed during the meeting personally by the Group CEO Dr. Peter Mrosik and Markus Wirth, Chairman of the Wirth Gruppe Board.
About the Investor: Last month, Profine Group and Wirth Group founded Profine Energy GmbH, a joint energy service provider based in Waghäusel, Germany. Profine Group, under the KBE, KÖMMERLING and TROCAL brands, produces PVC window profiles and residential doors, roller shutter systems and PVC panels. The consolidated turnover of the company is over 900 million euros and the production capacity is approximately 450,000 tonnes of profiles per year. Profine Group has over 3,000 employees at 29 sites in 23 countries.