site.btaBulgarian Metallurgy on the Rebound - Experts

Bulgarian Metallurgy on the Rebound - Experts

Sofia, September 26 (BTA) - Addressing an international conference, Anton Petrov, President of the Bulgarian Association of the Metallurgical Industry (BAMI), said this industry is recovering, has a promising future and is key to the sustainable development of the Bulgarian economy.

The September 26-28 International Conference on Metallurgy and Materials (ICMM'16) is organized by the University of Chemical Technology and Metallurgy.

Petrov said that nearly 200 companies are engaged in the industry, with 12,000 people directly employed and more than 50,000 or 60,000 people in related jobs.

Metallurgy accounts for 10-12 per cent of industrial output and 13-16 per cent in total exports. It is an export-oriented industry with an annual output worth 3.6 to 4 billion euro, of which about 80 per cent is exported. Investments in new operations and products in the last 15 years totalled 2.5 billion euro and did not shrink during the global economic crisis, Petrov said.

He noted that metallurgy uses about 20 per cent of the generated electricity and accounts for about 22 per cent of freight.