Minister Lachezar Borisov allotted four investment certificates in the amount of BGN 110 million

Minister Lachezar Borisov allotted four investment certificates in the amount of BGN 110 million

The Minister of Economy Lachezar Borisov presented four Class A investment certificates, issued under the Investment Promotion Act. The value of the projects is BGN 110 million. In official ceremony at the Ministry of Economy the Deputy Minister of Economy Stamen Yanev gave the awards to representitives of the companies The Minister pointed out that with these four projects since the beginning of the year under the Investment Promotion Act certificates for investment class have reached a total of 18 projects, at a total amount of BGN 415.2 million, have with the potential to create 2602 new jobs.

Mr. Borisov added that the government is trying to encourage investors by improving investment conditions and attracting strategic investors. „Normative changes have been made in the Regulations for implementation of the Investment Promotion Act to implement a new financial measure to support prior strategic investors from the processing industry for grants, depending on the size of the investment and the region applying the rules of EU state aid”. He also added that the draft decree is to be published for public discussion this week.

The Minister of Economy stated that all four projects are high-tech and will generate high added value in regions such as Shumen, Varna, Kardzhali and Sofia. Three of the projects refer to one of the main priorities of the Ministry which is the development of the circular economy.

The investment project of “Harmony 2012” EOOD is related to a Welz installation for processing zinc-containing materials in the town of Kardzhali. The amount of investment is BGN 45,581,000.,00. During the period of implementation of the investment project and as a result of it, 54 new jobs will be created.

The project of Alcomet AD is for increase in both the capacity and the efficiency of the production. The company plans to expand and modernize the existing production at its plant in the municipality of Shoumen, as it is about to sign a supply contract with a large customer in the automotive sector. To meet the requirements of the new customer, they plan to expand their production base with the construction of another workshop and at the same time to modernize the existing ones. The amount of investment has a total value of BGN 27 million and 33 new jobs are expected to be created.

The third project, which received a class A investment certificate, belongs to TECHNOYON EAD for the construction of a plant in the town of Devnya, Varna region, for hydrometallurgical processing and production of cathode copper and cathode zinc, characterized with its sustainability and modern functionality. The amount is BGN 10,440,000.00, and 53 new jobs will be created.

The fourth project is for the investment project “Expansion of an existing base” operated by Lufthansa Technik in Sofia. The investment amount of the project is BGN 27 million.