site.btaUPDATED Cabinet Approves Promotion Measures for Large-Scale Investment to Create 600 Jobs

Bulgaria's Council of Ministers on Wednesday approved memorandums of understanding and allocation of funds that will result in the creation of nearly 600 jobs, the Government Information Service reported. The large-scale investments concerned approximate BGN 1 billion.

Alcomet of Shumen (Northeastern Bulgaria) will invest BGN 136 million in an expansion of its production of electric car aluminium alloys and solar panels, creating 160 new jobs.

Schneider Electric Bulgaria plans building a smart production building in Maritsa Municipality near Plovdiv (South Central Bulgaria) with innovative technologies and renewable energy sources. This will be the first such plant in Central and Eastern Europe. The BGN 107 million investment is to create at least 105 new jobs. 

The Rubin Glass Works of Pleven (North Central Bulgaria) will build a 300-tonne furnace and will modernize warehouse areas, with a focus on innovative products and reducing carbon emissions. The BGN 100 million-plus investment will create over 150 jobs in Pleven Municipality.

Carlsberg Bulgaria will invest more than BGN 23 million in an expansion of its plant in Blagoevgrad (Southwestern Bulgaria) and, to this end, will build a new industrial building and an additional processing line. The company and all other investors in the region will benefit from a new road link in the city, for the construction of which the Cabinet allocated nearly BGN 800,000. The project will ease considerably local traffic.

Over BGN 1 million were allocated to Targovishte Municipality (Northeastern Bulgaria) to building road infrastructure accession the Vabel Industrial Zone. One of the beneficiaries of the project is Pasabahce Bulgaria, which is investing BGN 28.5 million in automation and innovation.

In yet another investment promotion measure, the Cabinet approved nearly BGN 500,000 for road infrastructure construction in Devnya Municipality (Northeastern Bulgaria). The idea is to facilitate the implementation of a project of Agripolychim to modernize its nitrogen fertilizer production and waste energy recovery. The BGN 54.2 million investment is expected to create 40 new jobs.

Senid OOD will set up a medical and spa rehabilitation centre in Hisarya (Central Bulgaria), investing BGN 41.5 million in the project and creating 120 jobs. It will benefit from infrastructure construction for which the Council of Ministers allocated BGN 600,000 on the budget of the Ministry of Innovation and Growth under the Investment Promotion Act.